Image via WikipediaRobinsons Land Corporation (RLC), the property development arm of JG Summit Holdings, reported a 10 percent growth in net income for the fiscal year ending September 2010 to P3.59 billion.
In a disclosure to the Philippine Stock Exchange, RLC said net profit growth would have been higher at 13 percent if the P103 Million gain from interest rate swap transaction in 2009 was excluded.
RLC generated total gross revenues of P11.30 billion for fiscal year 2010, an increase of 5 percent from P10.73 billion of total gross revenues for fiscal year 2009. EBITDA amounted to P6.41 billion in 2010, up by 8 percent from 2009.
The firm said its Commercial Centers Division accounted for P5.74 billion of the real estate revenues for the year versus P4.21 billion in 2009.
The 36 percent increase was principally due to newly opened malls particularly Robinsons Place General Santos, Robinsons Ilocos Norte, Robinsons Place Dumaguete, and Cybergate Cebu.
http://www.mb.com.ph/node/299195/rlc-po
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