InterAksyon.com means BUSINESS
MANILA, Philippines - Robinsons Land Corp. posted a modest rise in earnings in the second quarter of its fiscal year ending September because of the double-digit growth of its mall and residential businesses.
In a regulatory filing, the Gokongwei-led real estate developer said net income attributable to equity holders increased by 6.8 percent to P1.09 billion in the three months ending March from P1.02 billion in the same period last year.
This pushed net attributable profit in the six-month period to P2.24 billion, up by a tenth from P2.04 billion last year.
Revenues expanded by 13.6 percent to P7.11 billion in the first half from P6.26 billion in 2011 after revenues in the three-month period grew by 14.67 percent to P3.53 billion from P3.08 billion.
Shopping centers accounted for 49 percent of total revenues in the first half, while the residential group contributed 32 percent. Office and hotels chipped in nine percent each.
In the first half of its fiscal year, the commercial centers division raised its contribution to gross revenues by 15 percent to P3.5 billion on the strength of its malls in Metro Manila and decent rental revenue growth in almost all provincial malls.
The residential segment grew its revenue contribution by 15 percent to P2.26 billion due to higher level of realized sales based on project completion.
Revenues of the office buildings division rose nine percent to P698 million on higher lease income
The hotels division contributed P679.9 million to the company’s revenues, up by also nine percent year-on-year.
InterAksyon.com means BUSINESS
BUSINESS NEWS
