Rockwell net income up 19%In the first half of 2015, Rockwell Land Corporation’s net income was at P698 million, a 19% increase year-on-year.
Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) was at P1.3 billion, an 8% year-on-year increase, where the commercial development segment contributed 52%.
The significant increase in recurring EBITDA was due to the sale of 8 Rockwell office spaces and higher occupancy of Rockwell Business Center’s third tower which opened in September 2014.
Majority of Rockwell Land’s projects have already reached an overall sales take-up of 80%. New product launches in 2H 2015 will further capture demand for the company’s projects, including The Proscenium Residences, 32 Sanson Phase 2 in Cebu, and Rockwell Primaries’ The Vantage and East Bay Residences. (Story/Photo by: Vienn Tionglico-Guzman)