Posted on February 16, 2015 09:47:00
PM [ BusinessWorld Online ]
By Daphne J. Magturo, Reporter
Bottom line for the whole 2014 reached
P14.8 billion from P11.7 billion a year gap, the company said in a press
statement on Monday, surpassing the P14.5-billion median estimate of three
brokerage firms interviewed yesterday.
Shares in the company gained five
centavos or 0.14% to close at P35.35 apiece on Monday.
Ayala Land’s consolidated revenues
rose 17% year on year to P95.2 billion.
In the property development segment,
which includes the sale of residential lots and units, office spaces, and
commercial and industrial lots, the company grew its revenues by 21% to P65.9
billion. Ayala Land’s commercial leasing business also reported revenues of
P21.2 billion, 18% higher year on year, while revenues from hotels and resorts
jumped 40% to P5.6 billion, “primarily driven by the improved performance of
new hotels and resorts.”
“We remain positive,” Ayala Land
President and Chief Executive Officer Bernard Vincent O. Dy told a media
briefing in Makati City.
ALI’s 2020 targets include an annual
net income growth of 20% to P40 billion by 2020, and a recurring income
business that contributes 50% to total profit.
At present, the company’s recurring
income accounts for 38% of its total profit, while the rest comes from property
development, Ayala Land Chief Finance Officer Jaime E. Ysmael said in the same
briefing.
This year, the company is looking at
launching projects worth P100-120 billion, “depending on demand,” Mr. Dy said,
noting that the company expects growth “across the board.”
For the office segment alone, the
gross leasable area to be launched this year will amount to 300,000 square
meters (sq.m.) -- roughly the same level last year -- in Alabang Town Center,
Cebu City and Bonifacio Global City. Another 147,000 sq.m. leasable space in
shopping malls will also be launched this year, including those in Nuvali,
Bonifacio Global City, Ortigas, Tagaytay, Circuit Makati and UP Town Center.
“Ayala Land outpaced our estimate of
22%,” said Nisha S. Alicer, chief equity analyst at DA Market Securities, Inc.
“We maintain a buy recommendation with a TP (target price) of P39.”
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