Robinsons Land Corp. (RLC), a unit of the Gokongwei group, reported Monday a net income of P680 million in the October-December quarter, almost unchanged from the same period in 2007, as the rise in expenses offset modest revenue growth.

Revenue in the quarter, the first in the company?s financial year, rose 3.0 percent year-on-year to P2.38 billion, Robinsons Land told the Philippine Stock Exchange.

Pretax net income rose 7.0 percent year-on-year to P896 million.

Gokongwei food firm Universal Robina Corp. (URC) registered a net loss of P232 million in the same quarter, a reversal from a net income of P234 million in the year-earlier period.

?This decline was caused primarily by foreign exchange losses and mark-to-market losses from financial assets, resulting from the drop in bond prices worldwide arising out of the current financial crisis,? Universal Robina said in a disclosure to the stock exchange.

It said operating profit rose 11.7 percent year-on-year to P1.02 billion on higher earnings from branded consumer food units, improved margins on international operations, and price increases for some key products.

It said pretax core earnings fell 10.5 percent because of an increase in short-term debt and trust receipts. Edited by INQUIRER.net