ROBINSONS Land Corp. (RLC), the listed real-estate arm of the Gokongwei-controlled JG Summit Holdings Inc., reported over the weekend a 20-percent increase in net profit from October 2005 to June this year to P1.23 billion, from P1.02 billion in the same period last fiscal year.
Revenues for the nine-month period also by grew 27 percent to P4.83 billion. From April to June 2006 alone, the company’s revenues were pegged at P1.486 billion.
The company’s fiscal year ends in September.
In a statement, RLC executive vice president and group general manager Frederick D. Go said all four core business units of the company grew, with the commercial centers division as the largest revenue contributor. Its buildings division accounted for the highest increase in profitability.
The commercial centers division contributed almost half of the company’s gross revenues. Shopping centers, led by flagship stores Robinsons Galleria and Robinsons Place Manila, recorded gross revenues of P2.35 billion. Recently opened mall Robinsons Place Pioneer and the redeveloped Robinsons Place Novaliches contributed to the rental growth. RLC said it would continue to focus its efforts on improving tenant mix, enhancing mall facilities, and intensifying marketing efforts.
The high-rise buildings division registered a 79-percent increase in revenues from P813.9 million to P1.45 billion this year.
“RLC is a preferred landlord among major international and domestic contact centers and BPO companies owing to the prime locations and superior technical design of its office buildings,” Go said.
The company is now the country’s biggest landlord of contact and business process centers. Enjoying almost full occupancy in all its office properties, which includes Robinsons Cybergate Center, RLC’s rental income rose a substantial 43 percent year on year.
Revenues of the housing division reached P368.81 million, with a 12-percent jump over last year’s P329.71 million. Robinsons Homes’ projects in Davao, Robinsons Highlands and Bloomfields lead the sales for this year.
The hotel division registered gross revenues of P657.86 million from October 2005 to June 2006, an 86-percent jump over the previous year’s P354.64 million, driven mainly by the recently opened Crowne Plaza Galleria Manila.
As of June 30, 2006, RLC’s total assets stood at P32.391 billion, while stockholders equity was at P14.023 billion. ---Honey Madrilejos-Reyes
http://www.businessmirror.com.ph/comp03.php
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