Philippines: Robinsons Land reported a 21% increase in net profit for the 22nd consecutive year.

Gokongwei conglomerate Robinsons Land said in its 2022 earnings report that its consolidated net profit was 9.75 billion pesos, up 21% from 2021. Compared to 2019 before the corona crisis, it increased by 12%. Consolidated gross revenue also increased 25% year-on-year to Ps.45.51 billion. Income from RLC Residences & Robinsons Homes, a residential development division, rose 44% year-on-year to P9.1 billion, while Robinsons Malls, a mall operations division, rose 58% to P13.03 billion. Last year, mall customer traffic returned to pre-coronavirus levels, and store space rental income increased by 74% year-on-year. Hotel business revenue also increased by 94% year-on-year to P2.3 billion. (11th, Star)