ALI GROWS Q1 INCOME BY 25%

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Listed property giant Ayala Land Inc. (ALI) said its first-quarter net income grew 25 percent year-on-year with all its business portfolios performing well. ALI reported its financial performance to the Philippine Stock Exchange, saying it sustained a high growth trajectory in the first quarter with a net income of P3.46 billion against the P2.8 billion recorded in the same period last year. The company attributed the positive result to the strong performance of all its business units, from property development to commercial leasing and the services business. “The solid performance of each of our business units contributed to ALI’s overall earnings,” said Bobby Dy, newly elected ALI president and chief executive officer. “We expect sustained growth to be driven by continuous development in our mixed-use estates as we further enhance our residential, shopping center, office, and hotels and resorts offerings,” he added.

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