RL Commercial REIT, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 08, 2023 at 11:09 pm EDT
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RL Commercial REIT, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was PHP 1,187.11 million compared to PHP 1,064.49 million a year ago. Revenue was PHP 1,371.89 million compared to PHP 1,235.67 million a year ago.
Net income was PHP 1,086.2 million compared to PHP 989.69 million a year ago. Basic earnings per share from continuing operations was PHP 0.1013 compared to PHP 0.0995 a year ago. Diluted earnings per share from continuing operations was PHP 0.1013 compared to PHP 0.0995 a year ago.
RL Commercial REIT, Inc. is a Philippines-based real estate investment trust (REIT) company. The Companyâs primary purpose is to acquire by purchase, lease or otherwise, and to own, develop, sell, mortgage, lease, and hold for investment or otherwise, real estate of all kinds. It leases to a diversified tenant base and has a portfolio of approximately 16 commercial real estate assets across the Philippines with an aggregate gross leasable area (GLA) of 480,479 square kilometers. The Company's portfolio consists of commercial spaces primarily leased for office purposes, with minimal retail spaces on some of the properties to support the needs of office tenants. Its properties include Robinsons Equitable Tower, Robinsons Summit Center, Cyberscape Alpha, Cyberscape Beta, Tera Tower, Cyber Sigma, Exxa-Zeta Tower, Robinsons Cyberscape Gamma, Robinsons Cybergate Center 2, Robinsons Cybergate Center 3, Robinsons Cybergate Cebu, Galleria Cebu, Luisita BTS 1, and Cybergate Naga.
RL COMMERCIAL REIT, INC. 
