RCI units gearing for recovery


Roxas and Company Inc. (RCI) on Wednesday said its units are positioned for a strong recovery in the coming months on the back of strong global demand for coconut products, a highly anticipated travel resurgence, and its real estate ventures.

Roxas Sigma Agriventures Inc. is ramping up production following the successful approval and partial release of a P100-million loan from state-owned Development Bank of the Philippines last July.

August tonnage from the same period last year rose 13 percent, netting a 40 percent improvement in average throughput year-on-year.

“The company forecasts up to a 50 percent increase in full year revenues versus 2020,” it said.

Meanwhile, its four Go Hotels, operated by Roxaco Asia Hospitality Corp. have achieved strong occupancy since the first quarter of 2020, due to high demand for affordable, clean, safe, and health-compliant quarantine locations.

The company said it is welcoming corporate clients as the budget hotel brand slowly pivots to regular guests. Anya Resort Tagaytay, meanwhile, is preparing to reopen for clients from Metro Manila, which accounts for about 90 percent of its visitors. It offers room, dining, wellness and events services with its 78 rooms, two restaurants, a heated pool and a new spa in a secure location. It also caters to conferences, meetings and family functions.

“Various projects in Roxaco Land Corp. [RLC] are 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,” it said.

The group has achieved a vaccination rate of 89 percent across its businesses, and the number will increase further through the end of the year.

For the first half, the company said it was able to narrow its losses to P98.18 million from last year’s P367.8 million loss.

Revenues grew by more than three times to P632.03 million from the previous year’s P181.74 million, as its real estate, hospitality and coconut processing units recovered.

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