Ayala Land 2Q Net Profit up 25% at PHP2.19 Billion

Fox Business - Ayala Land Inc.'s (ALI.PH) second-quarter net profit rose 25% from the year-earlier period as earnings at the Philippines' largest property developer by sales and market capitalization continued to be boosted by the buoyant real-estate market, it said Friday.

Ayala Land's net profit in the April-June quarter increased to 2.19 billion pesos ($52.4 million) from PHP1.76 billion. Second-quarter revenue rose 18% to PHP12.63 billion mainly on double-digit growth in real-estate sales.

First-half net profit rose 28% to PHP4.33 billion from PHP3.38 billion compared with the same period of 2011 and revenue increased to PHP25.02 billion from PHP21.25 billion.

The company said revenue from residential projects was up 24% in the first six months to PHP13.95 billion while sales of commercial and industrial lots gained 29% to PHP1.35 billion.
 

For more details on Ayala projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com