Robinsons Land ends 2020 with P5.26-billion income

Robinsons Land Corp. said on Tuesday it posted a full-2020 net profit of P5.26 billion after it grew by 20 percent quarter-on-quarter to P863 million on improvements across its businesses.

In a filing, the Gokongwei-led real estate developer reported that its consolidated revenues dropped by 17 percent to P25.4 billion last year.

Its development portfolio widened by 30 percent to P12.26 billion, accounting for 49 percent of the topline.

This segment’s double-digit increase partially offset the 38-percent decline in its investment portfolio to P13.15 billion.

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The firm’s commercial centers division saw its consolidated revenues rise to P5.96 billion on growth in its operational gross leasable area, operational tenants and foot traffic in the fourth quarter.

Revenues of its office buildings segment climbed by 10 percent to P5.85 billion; residential division, 33 percent to P12.13 billion as sales takeup reached P7.29 billion; Industrial and integrated developments division, 90 percent to P262 million; and hotels and resorts division, 16 percent, helping it close the year with P1.08 billion.

Robinsons Land shares shed 14 centavos or 0.71 percent to close at P19.68 each on Tuesday.

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Article and Photo originally posted by Manila Times last March 3, 2021 and written by Faye Almazan.

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