RLC H1 earnings up 25% to P7.25B

Robinsons Land Corp. (RLC) reported on Friday that its first-half earnings surged by 25 percent to P7.25 billion on the strong performance of its investment properties.

Excluding a one-time gain from the reclassification of its GoTyme investment, RLC’s net income during the period inched up 9 percent to P6.52 billion.

Revenues likewise rose by 9 percent to P21.33 billion.

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Its investment portfolio—malls, offices, hotels and warehouse segments—saw a 15-percent uptick in revenues to P15.86 billion.

This accounts for three-fourths of the company’s total revenues in the January to June period.

“We remain committed to delivering value to our customers and shareholders, and we are optimistic about our growth prospects for the remainder of the year,” RLC chair, president and CEO Lance Gokongwei said in a statement.