RLC profit surges by 40%
Gokongwei-led Robinsons Land Corp. grew net profit last year by 40 percent to P8.23 billion as the surge in revenues from residential development and sale of institutional lots added to its robust stream of rental earnings.
Consolidated revenue grew by 31 percent to P29.44 billion for the year while overall cash flow as measured by earnings before interest, taxes, depreciation and amortization (Ebitda) grew by 30 percent to P16.2 billion.
RLC’s investment portfolio grew business by 14 percent to P18.16 billion, driven by malls and offices divisions.
The development portfolio surged by 72 percent to reach revenue of P11.28 billion.
RLC’s residential division posted a 33-percent growth in revenue to P8.69 billion, driven by project launches and robust demand from domestic and overseas buyers. Sale of commercial lots contributed P2.59 billion in revenue.
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