PROPERTY developer Robinsons Land Corporation (RLC) said its net income for fiscal year ending September 2016 rose 7.9 percent from the previous year, mainly driven by revenues from its mall business. Total operating revenues grew 14.2 percent to P22.51 billion in fiscal 2016 from P19.71 billion in the previous year. Meanwhile, revenues from the Office Buildings Division grew by 30 percent to P2.91 billion, and accounted for 12.9 percent of the company’s total revenues. RLC said revenues from its Hotels Division grew by 3.5 percent to P1.81 billion, translating to an 8 percent contribution to total revenues. This increase principally came from relatively new hotels, namely Go Hotels Iloilo, Go Hotels Ortigas Center, Go Hotels Butuan, and Summit Hotels Magnolia, the company said.

Source: Manila Times January 13, 2017 16:39 UTC