Positioning for growth: Lopez family allots P11B for Rockwell Land’s expansion

Lopez-led property firm Rockwell Land will invest P11 billion of its retained earnings for its projects next year.

Rockwell told the local bourse that its board approved the appropriation of P11 billion of the company’s retained earnings as of December 31 this year to partially fund its capital expenditures for the period 2023-2024.

The company reported a 17 percent growth in its nine-month net income to P2.19 billion, driven by strong revenue contribution across its business segments.

It spent a total of P4.9 billion for project and capital expenditures from January to September, funded mainly by internally generated funds.

Bulk of the expenditures pertained to development costs, mainly that of The Arton, Proscenium, Rockwell South and Balmori Suites.

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