Posted on
July 12, 2013 07:14:10 PM [ BusinessWorld Online ]
LISTED PROPERTY
developer Ayala Land, Inc.’s second quarter financial performance was
"consistent" with growth posted during the January to March period,
an official said late Thursday.
"It is
still a good quarter. The numbers continue to be good consistent with the first
quarter," Jaime E. Ysmael, the company’s chief financal officer, told
reporters in Makati City when asked about indications on the company’s second
quarter performance.
"Sales
numbers continued to be strong, be it residential, commercial and office, so we
expect the second quarter to continue to be a good quarter," Mr. Ysmael
added.
Ayala Land’s
net income grew by 20.83% to P3.19 billion in the first quarter from P2.64
billion in the same period last year as revenues climbed by 39.35% to P18.52
billion from P13.29 billion.
In the second
quarter of last year, the company’s net income grew by 28.64% to P2.56 billion
from P1.99 billion in the same period of 2011 as sales revenues jumped by
18.48% to P12.63 billion from P10.66 billion.
Meanwhile,
projects rolled out in the first half were "less than 50%" of the
31,000 units targeted for offering this year due to "timing"
concerns.
The company
has earmarked P65.5 billion for capital expenditures this year -- P46 billion
for project completion and roughly P20 billion for land banking -- to bankroll
the construction of about 69 property projects valued collectively at P129
billion.
Shares of
Ayala Land were up by 65 centavos or 2.20% to P30.25 apiece on Friday. -- Cliff
Harvey C. Venzon
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