Robinsons Land 2007 profit jumps 42% to P2.44B

Robinsons Land Corp. on Wednesday announced that its profit jumped 42 percent to P2.44 billion in 2007, due to strong sales across all its business groups. In a statement sent to media, Robinsons Land also said its gross revenues for the year grew 29 percent to P8.99 billion. “All business units performed remarkably well. Our drive to build our brand and be responsive to market demands made our performance possible. The strategic initiatives and expansion programs we had pursued in recent years continue to bear fruit," said Frederich Go, Robinsons Land chief operating officer. The company said its high rise residential buildings division, a combination of residential building and office buildings, surpassed revenue contribution of the malls division for the first time, accounting for 40 percent of total revenues. The division posted P3.635-billion in revenues in 2007. Robinsons Land's commercial centers division, which operates its malls, accounted for 39 percent of revenues with P3.54 billion. The firm's housing and land development division reported revenues of P715.8 million, while its hotels division said revenues for last year reached P1.11 billion. - GMANews.TV