MANILA, Philippines – The oldest group of companies in the Philippines, Ayala Corporation, reported a 20 percent incline or 6.9 billion pesos in the first three months due to the robust real estate and banking business.
The revenue in the past first quarter is 9 percent higher than the last year’s 4th quarter result due to its strong banking business in that period.
According to Fernando Zobel de Ayala, Ayala Corporation’s President and COO, the company is pursuing to seek value-accretive prospects not just for the sake of financial advancement but also to retain the interest of the shareholders.
He said that due to the company’s triumph in obtaining the targeted goals, the members of the company are pleased with the recent results of the developing business. The different parts of the business operations which power generation, industrial tech units, and infrastructure are continuously seeking ways to develop and expand Ayala Corporation’s range of business.
The main businesses of Ayala Corporation include Bank of the Philippine Islands (BPI), Ayala Land, Manila Water, IMI, and Globe Telecom. Other companies which started in the previous years include AC Infra, AC Industrials, AC Energy, AC automotive, and AC education.
There is a 26 percent incline in BPI’s total revenue, which is 6.3 billion pesos, backed by its good lending performance.
The annual net profit of ALI increased 18% or 5.6 billion pesos due to its constant development in the commercial rental and property development business.
A 4 percent increase was reported by Globe Telecom, which is 31 billion pesos, due to the ascending data income which rose 8% or 10 billion pesos. The data segment is now a 42 percent of the overall mobile profits.
However, Manila Water experienced a 2 percent decline or 1.4 billion pesos in its net revenue because of the increase in expenses from expansion and investment projects.
A 22 percent increase or 332 million pesos was garnered by AC Industrials backed by a stronger business in automotive sales and electronics production.
The net revenue of IMI grew 33 percent or 8.7 million dollars of 434.1 million pesos because of the greater top line progress and improved gross income margins.
AC Energy net income climbed 25 percent or 313.7 million pesos even after the yearly maintenance of the business’ conventional assets such as GNPower Mariveles and South Luzon Thermal Energy Corporation.
AC Infrastructure gained 9 million pesos net income.