Ayala Land income up 12 percent to P15.2 billion in 1H

ABS-CBN News

Posted at Aug 05 2019 04:33 PM

MANILA - Ayala Land said Monday its net income in the January to June period grew 12 percent to P15.2 billion, compared to the same period in the previous year.

Total revenues also increased 4 percent to P83.2 billion during the first half on the back of sustained growth in its property development and commercial leasing businesses, the developer said.

"We continue to benefit from the strong economic growth of the country. Results from our various business lines continue to be good, with notable performances in our leasing portfolio and the sales of office condominiums and commercial lots," said ALI President and CEO Bernard Vincent Dy.

The company remains positive about market segments and plans to introduce more developments in the second half, Dy said.

Ayala Land's capital expenditures reached P49.5 billion in the first half.

The company's share price fell 3.6 percent to P49.15 at the close of trading, as the main index fell 2.95 percent.