Ayala Corp ends 2012 with over P10-B profit, up 12%

RAPPLER - - Ayala Corp., the country's oldest conglomerate, registered a 12% increase in its 2012 consolidated net income to P10.6 billion, thanks to growth in its real estate, banking and water operations. Excluding extraordinary gains and charges, Ayala's core net income jumped 32% to P11.6 billion in 2012.

Here is a breakdown of the performance of Ayala's subsidiaries:

Ayala Land Inc. posted a 27% net income increase to P9 billion on the back of margin gains and revenue growth of business segments. The real estate company reported a 23% increase in total revenues to P54.5 billion. Growth mainly came from its residential, commercial leasing and property management businesses.

Bank of the Philippine Islands registered a 27% jump in its 2012 net income to P16.3 billion. The improvement was due to a 6% hike in net interest income and a 25.4% increase in non-interest income.

Globe Telecom Inc. posted a net income of P10.3 billion, up 2% from P10.094 billion in 2011. The telco provider's service revenues grew 6% to a record-high of P82.7 billion. The company also reported an increase in its subscriber base and improvements in key product segments.

Manila Water Co. Inc. posted a net income increase of 28% to P5.4 billion in 2012. The company registered a 21% rise in revenues due to higher billed volume in the east zone of Metro Manila and expansion areas.

Ayala's other units, electronics company Integrated Microelectronics Inc. (IMI) and BPO firm LiveIt, also posted strong numbers in spite of the volatility of the global economy.

IMI's net income grew 64% to $5.4 million. IMI's strong performance was due to its automotive segment. LiveIt, on the other hand, reduced it net loss due to amortization of intagibles and interest expense. The company had consolidated revenues of P125 billion during the year, up 16% from 2011.

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