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| English: Venus Raj at "The GOOD Run" event in Bonifacio Global City, Taguig, Metro Manila, Philippines. (Photo credit: Wikipedia) |
Property giant
Ayala Land Inc. (ALI) maintained its robust
earnings growth, recording close to a 30-
percent uptick in January to September profits on the back of strong performance of all its business segments.
In a disclosure, to the stock exchange, ALI said its earnings in the nine-month period hit P6.62 billion, up 27 percent from P5.23 billion a year ago “on the back of the strong performance and margin improvement achieved by all of the company’s major business lines.”
Consolidated
revenues jumped 20 percent to P39.01 billion from P32.63 billion last year.
Specifically, revenues from real estate and hotels, which accounted for the bulk of total revenues, climbed a fifth to P36.89 billion.
ALI said its net income margin also improved, rising to 20 percent from 18 percent year-on-year.
“We are midway into our 5-10-15 plan and we continue to progress very well, and this is reflected in our results over the first nine months of the year,” said ALI chief finance officer Jaime Ysmael.
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Average monthly sales take-up remains very robust and margin improvement is steady for all business lines,” Ysmael said.
ALI is in the thick of its so-called 5-10-15 plan, which targets P10 billion after-tax income and a return on equity of 15 percent in five years ending 2014.
Ysmael said the property firm has spent 94 percent its full-year programmed
capital expenditures, with a number of projects still to be launched late this year.
ALI has earmarked P37 billion for its capital spending this year – its highest capital expenditures ever – mostly to go to
residential projects, followed by shopping centers and hotels.
The property development segment, composed of the sale of residential units and industrial lots, grew its revenues 27 percent to P23.91 billion in the nine-month period from P18.8 billion a year ago.
Revenues from the residential segment reached P22.32 billion, up 27 percent from last year, driven by strong sales and continued construction of projects across all residential brands.
ALI said sales take-up in the nine-month period hit P57.85 billion, equivalent to an average monthly sales take-up of P6.43 billion, surging by half from P4.31 billion last year.
So far, ALI’s four residential brands launched a total of 13,057 units.
Revenues from the sale of commercial and industrial lots rose 26 percent to P1.59 billion in the nine-month period due to the sale commercial lots in Nuvali in
Laguna and
Bonifacio Global City in
Taguig.
For commercial leasing, ALI said its revenues climbed19 percent to P6.34 billion from P5.33 billion recorded in same period last year.
