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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