Ayala Land net up 30%By Doris C. Dumlao
Philippine Daily Inquirer
Property giant Ayala Land Inc. posted a 30-percent year-on-year jump in net profit in the first half of the year as it unlocked higher earnings from property development, commercial leasing and construction businesses.
ALI booked P36.63 billion in consolidated revenue during the first six months, up 36 percent year-on-year. The bulk of the revenue came from real estate and hotel operations, amounting to P35.81 billion.
“The sustained earnings growth is supported significantly by newly launched Arca South (FTI), Vertis North and the Circuit. This is in addition to the continuing growth of products in our traditional centers such as Makati, Bonifacio Global City, Nuvali and Cebu Park District,” said ALI president and CEO Antonino T. Aquino.
Revenue from the residential segment contributed P18.4 billion, 28 percent higher than year-ago level, which ALI attributed to strong bookings across all residential brands. Ayala Land Premier’s revenue grew by 25 percent to P6.68 billion, driven by bookings from The Suites Bonifacio Global City (BGC), Garden Towers and Park Terraces in Makati City.
Alveo’s earnings went up by 20 percent to P4.44 billion with higher contribution from Mirala, Escala, Kroma and HSS Corporate Plaza and additional bookings from Lerato.
Avida posted a 45-percent revenue growth to P5.24 billion, while Amaia’s rose by 58 percent to P975 million.
As an indicator of future earnings growth in its residential business, ALI’s sales take-up value in the first six months reached P43.79 billion, or an average monthly sales take-up of P7.3 billion.