LISTED holding firm Roxas and Company Inc. (RCI) posted a consolidated net loss of P77.9 million for its fiscal year ending September 30, 2016, reversing the consolidated net income of P135.1 million in the previous year, due to higher expenses from subsidiaries and lower real estate sales.
In an annual report to the Philippine Stock Exchange (PSE) on Monday, RCI said its consolidated sales declined by 23 percent to P193.9 million, mainly on lower real estate sales from Phase 2 of Anya Resort and Residences under RCI’s tourism subsidiary Roxaco Land Corp. (RLC).
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