Tuesday, September 28, 2021

RLC spends close to P5B in capex in Q1 2021

ROBINSONS Land Corp. (RLC) has sustained its momentum for recovery with recorded quarter-on-quarter improvements in key operating indicators across its business units.

Net income for the first quarter of 2021 grew 236 percent versus the fourth quarter of 2020 to P2.9 billion.

Amid an unprecedented business environment, RLC achieved consolidated revenues of P16.67 billion in the first three months to accelerate by 35 percent versus the same period last year. RLC spent P4.98 billion in capital expenditures in the first three months of 2021.

This was utilized for land acquisitions, development of malls, offices, hotels and warehouse facilities, and construction of residential projects for its local operations. (PR)


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