ALI’s net income jumps 19% to
Real estate giant Ayala Land, Inc. (ALI) posted a 19 percent jump in net income to R20.9 billion in 2016 on the back of a 16 percent growth in consolidated revenues to R124.6 billion.
In a disclosure to the Philippine Stock Exchange, the firm said the higher revenues were due to the stable growth of its property development business, balanced with the steady performance of its leasing portfolio.
ALI President Bernard Vincent O. Dy said “2016 marked another banner year for Ayala Land. We achieved a higher level of profitability coming from the sustained growth of our estates and core businesses. Further, we executed our investment program to ensure continued growth in the coming years.”
Property development revenues rose 17 percent to R79.2 billion, driven by the steady traction of its residential and office for sale segments, complemented