Rockwell Land sets 2013 profit guidance at P1.4B to P1.5B

Developer Rockwell Land Corporation on Wednesday set a profit guidance of P1.4 to P1.5 billion in net income this year on the back of new projects and the expansion of its its geographical and market segment expansion.

 

“We made about P900 million two years ago. We made P1.1 billion in 2012. Guidance for 2013 is somewhere in bet P1.4 to 1.5 billion,” Nestor Padilla, president and CEO of Rockwell Land, told reporters in a briefing after the company’s annual stockholders’ meeting.

 

After seeing a 25 percent improvement in sales in the first quarter, Padilla said the company is now looking “25 percent to a high 30 percent on all different items.”

 

To grow its recurring business, Padilla said the company will continue to increase its office market from 44,000 square meters to 100,000 sqm of leasable space to cater to the needs not only of business process outsourcing firms but also traditional tenants.

 

Rockwell Land said it registered a net profit of P1.1 billion last year, up by 23 percent from P914.9 million in 2011 and driven by strong sales, timely completion of existing projects and a solid recurring income business. — VS, GMA News