LISTED Robinsons Land Corp. (RLC) on Wednesday reported a 12-percent higher operating income from domestic operations at P2.29 billion in January to March.

In a filing to the exchange, the property firm said its net income stood at P1.74 billion during the period, which is 94 percent of the profit it recorded in the first three months of 2019.

RLC noted its investment portfolio posted double-digit topline growth in the first quarter, led by its mall and office businesses.

Its property development portfolio, on the other hand, saw P1.77 billion in realized revenues, down 86 percent due to the recognition of revenues from China last year.

Robinsons Malls benefited from improved consumer spending and retail sales, prompting its revenues to climb by 19 percent to P2.67 billion in the first quarter of the year.

Robinsons Offices also saw higher revenues of P1.77 billion, up 12 percent year on year, on the back of its strong portfolio and successful leasing activities in new buildings.

The eased travel restrictions enabled the revenues of Robinsons Hotel and Resorts to climb by 30 percent to P335 million.

Robinsons Logistics and Industrial Facilities posted a more than doubled leasing revenues of P135 million amid continued demand for industrial spaces, while the Integrated Developments Division’s revenues ended at P57 million from the sale of parcels of land of joint venture entities.

RLC said its net sales reservations for the quarter inched up to P2.9 billion from P2.82 billion year on year.

Shares of RLC are down 18 centavos, or .96 percent, to close at P18.62 on Thursday.