Robinsons Land Corp., the property arm of the Gokongwei Group, said Wednesday net income rose 42 percent in the second quarter to P3.63 billion on the back of strong recovery in the mall and residential businesses.
RLC said in a disclosure to the stock exchange the strong second-quarter earnings pushed the first-half net income to P5.36 billion, surpassing pre-pandemic numbers by 34 percent.
“With the economy moving towards full reopening, we continue to sustain our upward trajectory and exceed pre-pandemic earnings. As we move to the second half of the year, we are encouraged by the strong recovery of our malls and hotels, sustained increase in residential sales, the resilience of our office and industrial businesses, and the overall strength of our diversified portfolio,” RLC president and chief executive Frederick Gi said.
“We remain upbeat on our future growth prospects anchored on improved business environment and the country’s stable macroeconomic fundamentals,” Go said.