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Robinsons Land posts 90 percent growth in first quarter net income

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Robinsons Land Corporation (RLC) President and CEO Frederick D. Go speaks during a press briefing at the launch of RLC" s="" development="" called="" Bridgetowne="" in="" Libis="" Quezon="" City="" on="" Sept.="" Jonathan="" ABS-CBN="" News="" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/04/25/go.jpg"/><figcaption>Robinsons Land Corporation (RLC) President and CEO Frederick D. Go speaks during a press briefing at the launch of RLC&#x27;s development called Bridgetowne in Libis Quezon City on Sept. 5, 2019. <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — Robinsons Land Corp said its net income attributable to parent grew 90 percent in the first quarter to P2.66 billion.</p><p>The first quarter profit eclipsed its pre-pandemic earnings in the same period by 45 percent, RLC said in a disclosure to the stock exchange. </p><p>Consolidated revenues rose 39 percent to P9.28 billion, it added.</p><p>&quot;We posted robust first quarter numbers right after a record year. This is a result of the strategic initiatives we continue to pursue on the back of strong fundamentals and a solid balance sheet,&quot; RLC President and CEO Frederick Go said.</p><p>The company said improved consumer spending pushed the revenues of Robinsons Malls up by 46 percent in the first quarter while Robinsons Offices posted a 4 percent increase in revenues, RLC said.</p><p>Other brands under its portfolio such as Robinsons Hotels and Resorts&#x27; revenues for the quarter increased by 162 percent, it added.</p><p>For the first 3 months of the year, RLC said it spent P4.52 billion in capital expenditures for the development of malls, offices, hotels and warehouse facilities, acquisition of land and construction of its residential projects for local operations.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/10/23/rlc-posts-p975-b-net-income-in-2022-exceeds-pre-pandemic-level">RLC posts P9.75-B net income in 2022, exceeds pre-pandemic level</a></li>	<li><a href="https://news.abs-cbn.com/business/11/11/22/rlc-posts-strong-earnings-in-q3-driven-by-recovery-in-malls-real-estate-businesses">RLC posts strong earnings in Q3 driven by recovery in malls, real estate businesses</a></li>	<li><a href="https://news.abs-cbn.com/business/08/11/22/rlc-posts-p536-b-net-income-in-first-half-of-2022">Robinsons Land Corp posts P5.36 billion net income in first half of 2022</a></li></ul><div><strong>FROM THE ARCHIVES</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1678471" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Robinsons Land Corp said its net income attributable to parent grew 90 percent in the first quarter to P2.66 billion.