Rockwell Land Corp said on Monday its 2012 earnings grew by nearly a quarter on strong sales and higher recurring income. In a disclosure to the Philippine Stock Exchange, the real estate arm of the Lopez group said its net income breached the P1-billion mark last year, climbing 23 percent to P1.1 billion from P914.9 million in 2011.
Reservation sales hit P9.2 billion in 2012, an improvement of 87 percent, because of the robust take-up of the Grove project as well as newly launched developments, 205 Santolan and the first two towers of The Proscenium.
Rockwell Land spent P7.9 billion last year, 79 percent higher than the P4.4 billion in 2011. This included acquisition of lots in San Juan, Quezon City and Cebu City, which will be launched this year together with The Proscenium's third tower, The Lincoln.
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