Ayala Corp Q1 net income rises 20% to P6.9B

AYALA Corp., the country’s oldest conglomerate, said its net income for the first three months of 2017 grew 20 percent to P6.9 billion, buoyed by its banking and real estate businesses as well as the solid earnings of its emerging businesses in power and industrial technologies.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, Ayala Corp. said strong equity earnings from its businesses, which climbed 18 percent year-on-year to reach P8.5 billion, lifted the conglomerate’s performance during the period.