However, in a disclosure to the Philippine Stock Exchange, the firm said it exhibited resilience and agility with recorded quarter-on-quarter improvements in key operating indicators across its business units. Net income in the fourthquarter of 2020 grew by 20 percent versus the previous quarter to end at P863 million. Consolidated revenues registered at P25.40 billion last year, down 17 percent. RLC’s Development Portfolio, accounting for 49 percent of consolidated revenues, increased by 30 percent to P12.26 billion to partially offset the decline from the Investment Portfolio which ended at P13.15 billion, 38 percent lower versus the same period last year. Despite significant reduction in revenues, all business units generated positive EBITDA, displaying the healthy state of the Company’s diversified portfolio.