Ayala Land’s first half earnings up by 18% driven by strong residential sales
August 7, 2017 – Ayala Land Inc. (ALI) posted strong net earnings of P11.5 billion in the first half of the year as the company focused on developing projects across its 22 estates nationwide. Its income was 18% higher than the P9.7 billion it posted in the same period in 2016, driven by solid contributions from its property development and leasing businesses.
Ayala Land Inc.’s consolidated revenues reached P64.5 billion, 18% higher compared to P54.8 billion it earned in the previous year, while revenues from real estate increased 18% to P60.5 billion. More than half of company revenues came from property development which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots.
Property sales boosted in the first half of 2017 as it reached P61.4 billion, 11% higher than the P55.1 billion it reported last year, translating to an average monthly sale of P10.2 billion.
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