Wednesday, June 11, 2014

25% Q1 growth for Ayala Land

Compared to this time last year, in 2014, Ayala Land Inc (ALI) has seen a 25 percent rise in its first quarter profits. The first quarter closed with a P3.46 billion net income.

Ayala Corp has announced plans to spend around P187 billion in record capital expenditures this year, for ALI's expansion and for their power and transport infrastructure.

Their sales revenue from residential units grew 36 percent or P11.02 billion. They also reported a rise in revenue from shopping centers and operations in offices, hotels and resorts, earning P5.28 billion or 29 percent more from the P4.09 billion earned last year.

Bobby Dy, Ayala Land’s president and CEO, says the solid performance of each of their business units contributed to ALI's over-all earnings. He says they expect sustained growth to be driven by continuous development in their mixed-used estates as they further enhance their residential, shopping center, office, hotel and resort offerings.

Fueling ALI's growth were five residential properties like Ayala Land Premier's Garden Towers at Makati, Alveo Land's Verve at Bonifacio Global City, Towers 3 and 4 of Avida Centera at Mandaluyong, Amaia Steps NUVALI and BellaVita Alaminos among others.

At the same time, they announced their figures for the first quarter, parent company Ayala Corp (AC) completed a sale of bonds that can be exchanged for shares. They disclosed to the Philippine Stock Exchange that AYC Finance Ltd listed $300 million worth of bonds due in 2019 at the Singapore Exchange in April. The bonds carry an interest rate of 0.5 per year, and will be exchangeable to common shares of ALI at P36.48 per share starting on 11 June until the tenth day before its maturity date on 2 May 2019. The shares exchanged will come from the conglomerate's stake in the real estate firm.

Ayala Corp has also announced plans to spend around P187 billion in record capital expenditures this year, for ALI's expansion and for their power and transport infrastructure.  


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