De­spite rev­enue dip, RLC in­come up 29% in Q3

Business World - - CORPORATE NEWS - Arra B. Fran­cia

ROBINSONS LAND Corp. (RLC) grew its at­trib­ut­able profit by 29% dur­ing the July to Septem­ber pe­riod, as cost ef­fi­cien­cies in op­er­a­tions off­set a slight dip in rev­enues.

In a reg­u­la­tory fil­ing, the Gokong­wei group’s prop­erty busi­ness said its net in­come at­trib­ut­able to the par­ent stood at P1.65 bil­lion in the third quar­ter, higher than the P1.28 bil­lion it re­al­ized in the same pe­riod in 2016.

RLC man­aged to off­set a 9% drop in rev­enues to P5.62 bil­lion with a re­duc­tion in costs from the real es­tate seg­ment, which recorded lower ex­penses for ad­ver­tis­ing, pro­mo­tions and com­mis­sions, among oth­ers.

Amid the pos­i­tive per­for­mance for the third quar­ter, RLC’s net in­come at­trib­ut­able to the par­ent was flat at P4.56 bil­lion in the nine months end­ing Septem­ber, com­pared to the P4.50 bil­lion re­ported in the same pe­riod in 2016. Rev­enues were also flat at P16.64 bil­lion. —

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