ALI’s POPI boosts profit over 300%

Prime Orion Philippines, Inc. (POPI), a subsidiary of Ayala Land, Inc., posted a significant threefold growth in net income to 170 million in the first half of 2018 from the 116.4 million it posted in the same period last year. In a disclosure to the Philippine Stock Exchange, POPI said gains were made across the company’s roster of commercial assets as it strengthened its foothold in the industrial park and real estate logistics business. Total revenue also tripled to 1925.9 million, from 1271.9 million in 2017, driven by robust industrial lot sales, improved rental revenue from warehouse facilities and higher revenues from commercial properties. (JAL)