Robinsons Land books Q2 profit growth

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Robinsons Mall Ormoc Leyte
Robinsons Land Corp. opened a mall in Ormoc City in Leyte, its 49th shopping center in the country.

Robinsons Land Corp. (RLC) delivered a 16% increase in attributable profit during the second quarter of 2018, driven by the performance of its residential, commercial, and hospitality segments.

In a regulatory filing, the Gokongwei-led property developer said net income attributable to the parent reached P1.79 billion, higher than the P1.54 billion it realized in the same period a year ago. This followed a 20% increase in revenues to P6.74 billion.

For the first semester, RLC’s attributable profit jumped by 14% to P3.33 billion, while revenues went up 19% to P13.1 billion. — Arra B. Francia