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ALI expects 42% profit hike in Q2

Vol. XXI, No. 252 [ BusinessWorld Online ]
Thursday, July 24, 2008 | MANILA, PHILIPPINES

PROPERTY DEVELOPER Ayala Land, Inc. (ALI) is confident that the company’s strong growth performance in the first quarter will continue as strong demand for ALI projects continue.

ALI President Jaime I. Ayala said the 42% profit growth in the first quarter will be matched in the second quarter.

The country’s top developer ended its first quarter with a net income of P1.83 billion, from P1.29 billion in the same period last year.

ALI Senior Vice-President Bobby Dy said domestic and overseas markets remain strong and these have been the main drivers for the company’s growth.

"[We have] stronger sales [from buyers] in other parts of the world, particularly in the Middle East and Asia," Mr. Dy said.

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