MANILA, Philippines - Robinsons Land Corp. (RLC), one of the country’s largest property developers, was recently awarded Asiamoney magazine’s Best Managed Company Small-Cap category in the Philippines in 2011.
Asiamoney, a leading financial publication based in Hong Kong, said RLC earned the award [because of the sensible way management has run the company’s operations.”
“We are honored and happy that our efforts to steer the company amid these challenging times have been recognized by such a prestigious publication as Asiamoney,” said RLC president Frederick Go.
“The Philippines’ second-largest builder and operator of malls has continued to grow revenues and profits,” noted Asiamoney.
RLC posted a 10 percent growth in net profit for the fiscal year ending Sept. 30, 2011 to P3.97 billion from the P3.59 billion earned in fiscal year 2010 on stronger leasing revenues and residential sales.
It generated total gross revenues of P13.34 billion for fiscal year 2011, an increase of 18 percent from P11.30 billion for fiscal year 2010. EBITDA amounted to P7.14 billion this year, up by 11 percent from the previous year.
“RLC’s plans for the future also look steady,” said Asiamoney, citing the firm’s plan to build three new malls per year, develop two new office properties in the Ortigas district, roll-out its Summit Hotels and gohotels.ph brands and launch P8-billion worth of residential projects.
A leading real estate conglomerate in the Philippines, RLC has built landmark property developments that include 29 malls, 5 hotels, 8 office buildings, 57 residential condominiums, and 31 affordable housing subdivisions throughout the country.
“We will open three new shopping malls, expand two existing malls, continue to complete several office buildings, residential condominium buildings, and housing subdivisions in the region. We are also very excited with this year’s opening of four gohotels.ph in Puerto Princessa, Tacloban, Dumaguete and Bacolod,” added Go.
Asiamoney is a monthly financial magazine that has been an important source of intelligence and information for corporate executives and the investment community in Asia since 1989. It is a division of the Euromoney Institutional Investor Plc, a respected global media group.
The Best Managed Company Awards are industry recognition awards given by
Asiamoney to the top small, medium and large cap companies in major countries across Asia where companies are measured against a list of criteria including profitability, market leadership and innovation.
[Reference: The Philippine Star]
Published in the The Philippine Star newspaper on March 02, 2012.
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