May 08, 2013

ALI Q1 profit jumps 30% to P2.76 B

Net income of Ayala Land Inc. (ALI) jumped 30% YOY to P2.76 B in the first three months. Consolidated revenues hit P18.53 B, up 38%. In particular, the residential business posted a 17% growth in revenues to P8.01 B on the back of a 33% improvement in the value of bookings across the residential brands Ayala Land Premier, Alveo, Avida and Amaia.

In the first quarter, the four residential brands launched a total of 4,010 units with a total sales value of P10.1 B. Revenues from the sale of commercial and industrial lots surged 348% to P4.1 B due to the sale of commercial lots in the Arca South property (Food Terminal Inc). Revenues of the hotels and resorts business climbed 86% to P1.21 B from P650 M a yearago due to the opening of new hotels and resorts. - WealthSec