Ayala Land Inc. profit up 18%
Ayala Land Inc. posted a net income of P11.5 billion in the first half, 18 percent higher than the previous year as it continued to develop 22 estates across the country. File
MANILA, Philippines - Ayala Land Inc. (ALI) posted a net income of P11.5 billion in the first half, 18 percent higher than the previous year as it continued to develop 22 estates across the country.
Revenues went up 18 percent to P64.5 billion, with more than half of the earnings coming from the sale of residential lots and units, office spaces, as well as commercial and industrial lots.
ALI president Bernard Vincent Dy said the company is on track to meeting its 2020 net income target of P40 billion.
“We’ve seen residential sales pick up in 2017, after a few years of relatively flat growth. Given our pipeline of launches for the balance of 2017, we remain positive that we can sustain the growth in the second half of the year,” Dy said.
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