RLC revenues up 16% to P35.77B in 9 months

ROBINSONS Land Corp. (RLC) posted a 130 percent growth in net income attributable to parent in the third quarter versus the same period last year.

Net income after tax reached P2.05 billion on robust contributions from its investment portfolio, which comprises malls, offices, hotels, and industrial facilities.

For the nine-month period ending Sept. 30, 2022, RLC grew consolidated revenues by 16 percent to P35.77 billion, driven by increased commercial leasing, accelerated consumption recovery in the malls, and improved sales recognition of domestic residential projects.

This was bolstered by the recognition of revenues from Phase 2 of the Chengdu Ban Bian Jie project in China.

Net income attributable to parent increased to P6.74 billion, up six percent versus the same period last year. Earnings per share attributable to parent is already at 85 percent of full-year 2021 earnings. (PR)