Robinsons Land net profit up 27%
Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
ROBINSONS LAND CORP. of tycoon John Gokongwei Jr. reported a 27.3-percent jump in net profit to P776.46 million for the second quarter of its fiscal year ending March 31 from P609.97 million in the same period a year ago.
It said revenues grew 32 percent to P2.18 billion during the quarter.
Revenues for the period from October to March (the company’s fiscal first half) stood at P5.24 billion, also up by 18.02 percent from P4.44 billion.
Net income for the first half of its fiscal year grew to P1.46 billion from last year’s P1.22 billion.
RLC said its high-rise buildings division accounted for 48 percent of the company’s first-half revenues at P2.5 billion, up 37 percent from P1.82 billion in the same period last year.
Revenues were boosted by four of the company’s ongoing projects: Gateway Garden Ridge in Mandaluyong, Mckinley Park Residences in Fort Bonifacio, Otis 888 in Manila, and Adriatico Place 3.
Commercial centers contributed 35 percent or P1.84 billion to the first-half revenues. Contributors included the Galleria Mall in Ortigas, Metro East Mall in Pasig, Robinsons Manila and other provincial malls.
