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Ayala Land Inc. Q1 2019 net profit up by 12% to P7.3B

/ 01:33 PM May 07, 2019

MANILA, Philippines — Property giant Ayala Land Inc. (ALI) grew net profit in the first three months by 12 percent year-on-year to P7.3 billion on higher earnings from residential development and commercial leasing portfolios.

Total revenues went up by 7 percent year-on-year to P39.7 billion, ALI disclosed to the Philippine Stock Exchange on Tuesday.

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“We continue to experience consistent growth in all our business lines.  Notable was the strength of our commercial portfolio as the asset build-up over the last few years moved the business forward.  Our development business also continues to grow in line with expectations, posting a healthy increase in reservation sales due the sustained demand from local and overseas Filipinos,” ALI president Bernard Vincent Dy disclosed.

Revenues from property development rose by 4 percent year-on-year to P26.1 billion for the three-month period. As an indicator of future revenue growth from development, sales reservations likewise grew by 8 percent to P34.1 billion for the quarter.

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ALI’s commercial leasing business, which includes the operation of shopping centers, offices, hotels and resorts, generated total revenues of P9.2 billion – a 19 percent improvement year-on-year.

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TAGS: 2019, Business, business news, D&L Industries, food, local news, net profit, News, Philippine news updates, Plastic, Q1
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