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Robinsons Land Corp net income up 47 percent to P6.44 billion in Jan to Sept

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ABS-CBN News

<p>MANILA - Robinsons Land Corp said Monday its net income hit P6.44 billion for the January to September period, up 47 percent compared to the same period last year. </p><p>Consolidate revenues rose 41 percent to P30.88 billion from P21.94 billion last year, RLC said in a disclosure to the stock exchange. </p><p>Net income in the third quarter was up by 38 percent to P990 million due to &quot;improved operating conditions,&quot; it said.</p><p>&quot;We sustained business recovery despite the reimposition of stricter quarantine restrictions in August,&quot; RLC president and CEO Frederick Go said. </p><p>&quot;As we head into the last quarter of the year, we are encouraged by the waning number of COVID-19 cases in the country, the progress of the government&#x27;s vaccination program and increased mobility, he added.</p><p>Metro Manila is under Alert Level 2 since Nov. 5 which gave Filipinos more room for movements as well as confidence to go back to malls, fuelling consumer spending. </p><p>RLC in the third quarter listed its real estate investment trust RL Commercial REIT Inc (RCR) in the Philippine Stock Exchange. PSE officials have confirmed RCR is the country&#x27;s largest REIT in terms of size and portfolio valuation at the time of listing.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/14/21/robinsons-rl-commercial-reits-debuts-on-pse">PH&#x27;s &#x27;largest&#x27; real estate investment trust RL Commercial REIT debuts on PSE</a></li>	<li><a href="https://news.abs-cbn.com/business/09/27/21/robinsons-reit-eyes-more-assets-to-boost-dividends">Robinsons&#x27; RL Commercial REIT eyes more asset acquisitions to boost dividend: Gokongwei</a></li>	<li><a href="https://news.abs-cbn.com/business/08/23/21/robinsons-sets-final-offer-price-for-real-estate-investment-trust-offering">Robinsons sets final offer price for real estate investment trust offering</a></li></ul><p>Robinsons malls, meanwhile, is gradually gaining momentum with its third quarter revenues growing 8 percent. </p><p>Robinsons Offices grew 5 percent compared to a year ago, it said. Robinsons said its logistics and industrial facilities achieved a 24 percent increase in revenues.</p><p>RLC Residences and Robinsons Homes reported a combined net pre-sales of P7.93 billion for the period, up 33 percent compared to last year, it said.</p><p>Robinsons said its Chengdu Ban Bian Jie project in China posted revenues of P10.51 billion in the first 9 months of the year.</p><div><strong>RELATED VIDEO:</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=1773849" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Robinsons Land Corp said Monday its net income hit P6.44 billion for the January to September period, up 47 percent compared to the same period last year.