ROCKWELL Land Corp. said its board approved on Friday the appropriation of P7 billion of the company’s retained earnings of P12.1 billion for capital expenditure covering the period 2019 to 2021.
The retained earnings level was as of Sept. 30, the company said told the stock exchange.
Rockwell did not disclose details, nor discuss the planned expenditure program for the three-year period.
As of September, the company reported a net profit attributable to the parent equity holders of P1.878 billion, up from P1.612 billion a year earlier. The increase comes after it recorded gross revenue of P12.201 billion from P10.721 billion in the same period nine-month period last year.
Basic earnings per share was at P0.31, from P0.26 previously.
Rockwell Land on Friday rose 1.01% to P2.00. — Victor V. Saulon