August 13, 2013

Ayala net income climbs 20% to P7.3B

Ayala Corp.’s (AC) net income hit P7.3  B in the first semester, up 20% from the same period last year. Without the impact of the accelerated depreciation as a result of the network modernization of Globe Telecom, AC’s core profits picked up 42% to P8.9 B.

Specifically, property giant Ayala Land Inc. (ALI) reported a net income growth of 30% to P5.6 B. Total revenues gained 36% to P36.6 B due to the 38-percent jump in real estate revenues.

Bank of the Philippine Islands’ (BPI) net income increased 27% to P12 B, backed by a 14-percent improvement in the bank’s total revenues, which grew at a faster pace that the 6-percent increase in operating expenses.

Globe Telecom, for its part, said its consolidated service revenues gained  9% to P44.5 B “driven by its mobile business which accounted for 80% of revenues.”

Manila Water Co. Inc.’s earnings rose 11% to P2.9 B on higher billed volume and expanded service connections. - WealthSec