ALI logistics firm profits surge 164%
AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc., more than doubled its net income to ₱500 million in the first nine months of 2019, up 164 percent from ₱189 million in the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said it posted a 64 percent increase in revenues to ₱3.2 billion for the first nine months of 2019.
In the third quarter alone, revenues slightly declined in 2019 to ₱949 million from P 1billion in 2018.
Meanwhile, ALLHC registered a consolidated net income of ₱154 million, up 29 percent versus last year's income for the same threemonth period. Income growth was mainly attributable to the gain on sale of shares held by a subsidiary.
Lucion Tan-led rum maker Tanduay Distillers, Inc. has entered the Guam market as part of its plan to aggressively expand its international presence.
In a statement, Paul Lim, Tanduay Distillers senior vicepresident said that the company partnered with TITAN Imports, one of Guam’s leading spirit distributors, to sell its 165year-old Filipino brand in the Western Pacific US territory.
“We believe that the brand will grow in the state of Guam
Leasing revenues from warehouses and commercial centers registered at ₱755 million for the 9-month period, growing by 31 percent from last year's post of ₱579 million.
Concurrently, industrial lot sales grew to ₱560 million, almost double from ₱283 million the previous year.
Year-to-date September 2019 capital expenditures for land acquisition, equity purchase, and developments reached ₱3 billion, supporting the company's thrust for geographical expansion.
"ALLHC's sustained positive financial results for the first nine months continue to show that we are in the right direction as we diversify and work towards a balanced portfolio. We aim to close the year 2019 strong and to start 2020 with the same optimism," said ALLHC President Maria Rowena M. Tomeldan. having a lot of Filipinos residing in that state who are familiar with the brand, and the locals of Guam themselves who are looking for quality products,” Lim said.
Aside from the US, Tanduay has presence in Middle East, Europe and other Asian nations.
For the past three years, Tanduay has been aggressive in opening new markets for its rums in countries outside the Philippines. In US alone, its sales volume grew by 114 percent last year.