Gokongwei group maintains real estate profits

MANILA, Philippines - Robinsons Land's profit growth accelerated last year, while Universal Robina's profits slowed.

The official results of Robinsons Land and Universal Robina are out for their fiscal years ending September.

Robinsons Land's profit grew 7.1% to P4.5 billion, a slight improvement in pace from 2012 when the company grew its profit by 6.8%.

Meanwhile, Universal Robina turned in a net profit of P10 billion for fiscal year ending September, 28.2% higher than year ago.

However, this was less than half of URC's 2012 growth of 67%. 2012 was extraordinary as the branded food maker recovered from a 38% decline in profits in 2011, due to expensive raw materials and other extraordinary losses. - ANC

source: www.abs-cbnnews.com

Robinsons Land earnings rise 7% to P4-B

MANILA, Philippines - Profits of Robinsons Land Corp. rose 7% to P4.245 billion during its fiscal year ending in September 2012 from the previous year's P3.972 billion.

Total revenues of the firm reached P13.515 billion, up 6% from P12.807 billion, while its costs and expenses fell 2% to P6.373 billion from P6.509 billion.

The firm's real estate operations contributed P12.131 billion in revenues, buoyed by rental income (P6.691 billion) and real estate sales (P4.105 billion).

The company's hotel operations, meanwhile, accounted for P1.384 billion in revenues.

source: abs-cbnnews.com