Gokongwei group maintains real estate profits

Posted at 01/14/2014 4:43 PM

MANILA, Philippines - Robinsons Land's profit growth accelerated last year, while Universal Robina's profits slowed.

The official results of Robinsons Land and Universal Robina are out for their fiscal years ending September.

Robinsons Land's profit grew 7.1% to P4.5 billion, a slight improvement in pace from 2012 when the company grew its profit by 6.8%.

Meanwhile, Universal Robina turned in a net profit of P10 billion for fiscal year ending September, 28.2% higher than year ago.

However, this was less than half of URC's 2012 growth of 67%. 2012 was extraordinary as the branded food maker recovered from a 38% decline in profits in 2011, due to expensive raw materials and other extraordinary losses. - ANC