Robinsons Land net income up 6% to P6.74B in 9 months

Robinsons Land Corporation (RLC) reported a six percent increase in net income to P6.74 billion for the first nine months of the year, largely due to a substantial 130 percent surge in third-quarter earnings.

The company's investment portfolio, which includes malls, offices, hotels, and industrial facilities, significantly contributed to the net income after tax reaching P2.05 billion in the third quarter.

Consolidated revenues for the nine-month period rose by 16 percent to P35.77 billion, driven by strong commercial leasing, recovering mall consumption, and increased domestic residential project sales.

Revenue recognition from Phase 2 of the Chengdu Ban Bian Jie project in China also bolstered RLC's financial performance.

RLC President and CEO Frederick D. Go highlighted the recovery of the investment portfolio and improved consumer sentiment as key drivers of growth, expressing optimism for continued investment strategies and long-term shareholder value creation.