Roxas and Company, Inc. (RCI) is upbeat as its subsidiaries are positioned to take advantage of strong global coconut product demand, a highly-anticipated travel resurgence, and real estate ventures.
In a disclosure to the Philippine Stock Exchange, the firm said subsidiary Roxas Sigma Agriventures, Inc. (RSAI) is ramping up production following the successful approval and partial release of a P100 mmillion loan from the Development Bank of the Philippines in July 2021.
August tonnage rose 13 percent from the same period last year, netting a 40 percent improvement in average throughput year-on-year. The company forecasts up to a 50 percentincrease in full year revenues from 2020 figures.
Meanwhile, RCI said that, since the first quarter of 2020, Roxaco Asia Hospitality Corporation’s (RAHC) four budget Go Hotels have achieved strong occupancy.
This is due to high demand for affordable, clean, safe, and health-compliant quarantine locations. RAHC is welcoming corporate clients as it slowly pivots to regular guests.
Anya Resort Tagaytay (ART) is preparing to reopen for NCR clients, where 90 perccent of its visitors come from.
It offers room, dining, wellness, and events services with its 78 world class rooms, two restaurants, a heated pool, and a new Spa offer in a secure and serene location. It also caters to conferences, meetings, and family functions.
Various projects in Roxaco Land Corporation (RLC) are also in progress. The southward expansion of housing and commercial developments as well as tollway and utility investments by private firms and government open compelling options for RLC’s strategically located landbanks.
In its latest filing, RCI disclosed that its first half 2021 Revenues improved to P632 million, a 250 percent growth from the same period in 2020 as its real estate, hospitality, and coconut processing units bucked the pandemic and recession.
Its gross margin improved more than four-fold to 60 percent, allowing the listed firm to narrow its January to June 2021 loss to P98 million from a P368 million loss a year ago.