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Ayala Land reports robust second-quarter performance

Posted on August 08, 2013 11:01:34 PM [ BusinessWorld Online ]
PROPERTY DEVELOPER Ayala Land, Inc. saw profit jump by more than a quarter in the April-June period as revenue growth kept place with a rise in cost, according to unaudited consolidated financial results the firm disclosed through the bourse yesterday.
  Ayala Land’s net income increased by 26.10% to P3.43 billion from P2.72 billion a year ago, as revenues jumped by 33.14% to P18.12 billion from P13.61 billion, while cost and expenses rose by 35.14% P13.46 billion from P9.96 billion.
Second-quarter net income sent profit to P6.62 billion in the first half, up 23.28% from P5.37 billion a year ago. Revenues rose 35.67% to P36.63 billion from P27.0 billion, while cost and expenses increased by 39.00% to P27.51 billion from P19.79 billion.
In a separate statement, the company said revenues from the residential segment rose 28% to P18.40 billion on “strong bookings across all residential brands.”
Ayala Land Premier, the upscale residential segment, raised revenues 25% to P6.68 billion on “significant bookings from high-value condominium units.” Alveo, the upper-middle-income segment, grew revenue by 20% P4.44 billion. Avida and Amaia, the “affordable” segments, recorded revenue growth of 45% and 58% to P5.24 billion and P975 million, respectively. BellaVita, the socialized housing segment, achieved a ninefold increase in revenues to P22 million, largely on bookings from its General Trias project.
Ayala Land shares lost five centavos or 0.17% to close P29 each yesterday. -- C. H. C. Venzon   
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