Robinsons Land income inches up to P10.17B
Robinsons Land Corp. posted an income uptick in the first nine months, buoyed by the growth of its core businesses, even as a top official cited a “more competitive” market.
The Gokongwei-led developer told the local bourse on Monday that its net income attributable to the parent inched up 2 percent to P10.17 billion from P10 billion a year ago.
Excluding its one-time gain from the reclassification of its GoTyme investment last year, attributable net income climbed 10 percent year-on-year.
For the third quarter alone, net income went up by 19.5 percent to P3.30 billion from P2.76 billion.
The group’s consolidated revenues in the January to September period reached P35.61 billion, up 13 percent from last year’s P31.42 billion.
Its investment portfolio—composed of malls, offices, hotels and warehouse segments—also grew by 9 percent.
“Our performance this quarter underscores the strength and resilience of our core businesses. Despite a more competitive environment and strategic reinvestments, we sustained healthy profitability and expanded our revenue base,” said RLC president and chief executive officer Mybelle Aragon-GoBio.
“We remain focused on strategic capital deployment … As we move forward, we are confident that our diversified portfolio and disciplined execution will position Robinsons Land for continued growth and market leadership,” the executive added.
Malls
Breaking down its business segment performance, Robinsons Malls realized an 11-percent improvement in revenues to P14.55 billion, lifted by rental growth and stronger foot traffic.
Its office unit also booked a higher top line at P6.24 billion, up 5 percent, with the new IT-business process management sector boosting occupancy in the period.
Robinsons Hotels and Resorts likewise saw better revenue figures in the first three quarters, jumping 10 percent to P4.74 billion, on higher guest volumes.
Robinsons Residences posted a 30-percent surge in net sales, hitting P4.06 billion.
Revenues of its logistics and industrial facilities and Robinsons Destination Estates stood at P661 million and P674 million, respectively.
As of end-September, its consolidated assets reached P273.2 billion.
