Gokongwei-led Robinsons Land Corp. (RLC) said its net income in the 2014 fiscal year ending in September grew 5 percent on the back of higher revenues across its residential, office and hotels businesses.
RLC said net income in fiscal 2014 rose to P4.73 billion from P4.48 billion the previous year as total revenues climbed to P17.05 billion from P15.90 billion previously.
Revenues from its residential, office and hotel businesses grew 2.5 percent to 7.0 percent on sustained residential sales, new office buildings and new Go Hotels units.
Its 2014 actual capital expenditures (capex) amounted to P14.1 billion, higher than the P13.2 billion recorded in 2013, which was mostly sourced from short and long-term loans as well as some internally generated funds.
The property firm earlier announced that its 2015 capex will be around P15 billion to P17 billion, mainly to finance the development of shopping centers and new offices and hotels.
Incorporated in 1980, RLC is the property vehicle of JG Summit Holdings Inc.
The firm has interests in residential (Robinsons Luxuria, Robinsons Residences, Robinsons Communities and Robisons Homes), commercial (Robinsons malls) and office buildings (Cyberspace Alpha and Cyberspace Beta), and hotels segments (Go Hotels, Crowne Plaza Manila Galleria, and Holiday Inn Manila Galleria). Kristyn