Property, power, cars boost Ayala Corp. Q1 net

Ayala Corp., the country’s oldest conglomerate, on Thursday said its net income for the first three months of the year expanded by 15 percent to P5.8 billion, buoyed by its real estate, power generation, and automotive sectors.

In a disclosure to the Philippine Stock Exchange, Ayala Corp. said its net earnings from January to March grew by 15 percent to P5.8 billion versus the P5.04 billion realized during the same period last year.