Robinsons Land Corp. of the Gokongwei group said Wednesday its net income rose 42 percent to P2.44 billion in 2007 from P1.72 billion a year ago.
In a statement to the stock exchange, the company said gross revenues also rose 29 percent to P8.99 billion last year from P6.97 billion in 2006.
"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 Frederick Go, Robinsons president and chief operating officer.
Its mall division accounted for 39 percent of gross revenues with P3.54 billion.
The company said five of its malls house call centers and outsourcing offices that are expected to grow significantly in the next few years. Robinsons is currently constructing malls in Bulacan, Dumagueta, Nueva Ecija and Tagaytay.
Robinsons' high-end residential division posted a 60-percent growth in revenues to P3.635 billion in 2007 from P2.27 billion in the previous year.
Its hotels division registered gross revenues of P1.11 billion, up 22 percent from P907.3 million in 2006.
Robinsons is the real estate arm of conglomerate JG Summit Holdings Inc., which also has interests in branded consumer products, telecommunications, air transportation and financial services.
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