Ayala Land sustained its high growth with net income up 28% year-on-year to P4.3 billion. All its businesses registered strong results.
Revenues grew by 18% to P25 billion with its property development business contributing the bulk of P15.3 billion, up 24% year-on-year. Revenues from its commercial leasing business grew by 21% to P4.2 billion.
Ayala Land's construction and property management business also registered high growth of 47% to P9.4 billion due to brisk residential, office, and mall projects; while revenues from its hotels and resorts business also rose by 15% to P1.3 billion.
Revenue growth outpaced the increase in expenses, resulting in margin improvements across the board. Ayala Land's performance has tracked ahead of targets it originally set in its 5-10-15 plan.
It continues to build sources of long-term growth as it replicates its mixed-use community development platform across cities in Mega Manila and as it re-creates its innovative township developments in other provinces in the country.
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"Ayala Land posts P4.3 billion net income in 1st half of 2012"
was written by Mary
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comments. The article was created on 10 August 2012
and updated on 10 August 2012