Robinsons Land Corp. (RLC) said profit last year grew by 23.56 percent to P12.06 billion from P9.76 billion the prior year.
“Excluding the impact of the China profit from the previous year, the net income attributable to the parent for the year would have surged by an impressive 45 percent year-on-year,” the company said.
Revenues, however, dropped 8 percent to P42.02 billion from P45.5 billion, with last year’s topline lacking a “substantial” contribution from RLC’s China business under the Ban Bian Jie development project.
“Excluding China’s revenues, consolidated revenues would have been up by 28 percent,” the company said.
RLC said its investment portfolio contributed 69 percent of revenues worth P28.82 billion.
“Our financial position remains strong, with total assets reaching P236 billion and shareholders’ equity at P142 billion, marking a 6 percent and 5 percent increase, respectively,” the company said.
RLC said its mall business posted revenues of P16.21 billion, up 24 percent. Rental revenues grew 28 percent to P11.49 billion.
Total mall leasable space stands at 1.6 million square meters (sq.m.), accommodating over 8,000 retailers, with a system-wide occupancy rate of 92 percent.
Robinsons Hotels and Resorts almost double its revenue to P4.56 billion.
All brand segments contributed to this growth, along with the food and beverage component and MICE business, RLC said.
Robinsons Offices posted a 4 percent growth in its topline to P7.36 billion.
Robinsons Logistics and Industrial Facilities (RLX) posted topline growth of 24 percent to P687 million. RLC Residences and Robinsons Homes posted a 32 percent increase in topline to P12.01 billion. The operation registered a 26 percent increase in sales take-up to P21.33 billion.
RLC reported that residential net sales take-up from joint venture projects in 2023. – Ruelle Castro