Stock News 2011: RLC posts P3.6-B FY net income, up 10%

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Robinsons 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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Stock News 2011: URC doubles net profit to P7.8 billion

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Universal Robina Corporation (URC) reported that its net income attributable to equity holders of the parent doubled to P7.82 billion in fiscal year ending September 2010 from P3.89 billion in the previous fiscal year.

In a disclosure to the Philippine Stock Exchange (PSE), URC said consolidated sale of goods and services rose 14.4 percent to P57.72 billion as revenues from almost all business segments grew by double digits.

Sale of goods and services in URC’s branded consumer foods segment (BCFG), excluding packaging division, hiked 11.1 percent to P42.32 billion from P38.1 billion in 2009.

http://www.mb.com.ph/node/299168/urc-double

International News 2010: Costco's August revenue rises 7%, but fiscal Q4 was soft

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ISSAQUAH, Wash. (AP) — Costco Wholesale Corp. (COST) said Thursday that revenue at stores open at least a year increased 7% in August, buoyed by higher gas prices and improved international revenue.

This topped the 4.2% rise that analysts surveyed by Thomson Reuters expected. But fourth-quarter and full-year revenue missed Wall Street expectations.

The wholesale club operator reported a 6% rise in revenue at U.S. stores open at least a year and an 11% increase in its overseas locations.

Taking out the impact of higher gas prices and stronger foreign currencies, August revenue at stores open at least a year gained 5%. The U.S. figure rose 5% and international results climbed 7%.

Total revenue for the four weeks ended Aug. 29 grew 9% to $5.9 billion. Fiscal fourth-quarter revenue climbed 8% to $23.6 billion, while revenue for the fiscal year improved 9% to $76.3 billion.

Analysts expected fourth-quarter revenue of $24.23 billion and fiscal-year revenue of $77.98 billion.

Costco said its fourth-quarter revenue at stores open at least a year climbed 6%. For the fiscal year, that figure rose 7%.

Costco, based in Issaquah, Wash., had 572 warehouses, including 416 in the U.S. and Puerto Rico, 79 in Canada, 22 in the U.K., seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico as of Aug. 29. It plans to open 10 more warehouses during the first four months of fiscal 2011.

http://www.usatoday.com/money/industries/retail/2010-09-02-costco-sales-august_N.htm

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