Home sales power RLC’s nine-month earnings to P6.5B
Robinsons Land Corp. saw its profit surge 43 percent in January to September on robust take up of its residential units as well as sustained double-digit growth in its mall and office leasing businesses.
Consolidated net income reached P6.5 billion as revenues soared 33 percent to P20.37 billion.
The commercial centers division chalked up P8.8 billion in revenues, accounting for 40 percent of the total. The figure reflected a 13 percent growth from the previous year, driven by high mall rental revenues and contributions from new malls namely Robinsons Place Iligan, Robinsons Place Naga, Robinsons North Tacloban, Robinsons Place Ormoc, Robinsons Place Pavia and Robinsons Place Tuguegarao.
Revenues from the residential segment grew 29 percent to P6.5 billion.
The office buildings division contributed P2.8 billion, up 17 percent from the previous year.
As for its hotels and resorts division, RLC grew revenues by 7 percent to P1.48 billion.
Meanwhile, its infrastructure and integrated developments unit pumped in P2.2 billion or 10 percent of the total revenues.