(Source: Inside Retail Philippines | 17 February 2017)
Ayala Land profit soared 19 per cent last financial year, largely on the back of its shopping mall and residential development businesses.
The company has reported a net profit of P20.9 billion, a figure it described as in line with its Vision 2020 roadmap unveiled three years ago in which it aimed for profits increasing by 20 per cent annually.
Total sales reached P124.6 billion, up 16 per cent year-on-year.
Ayala Land president and CEO Bernard Vincent Dy said 2016 marked “another banner year for Ayala Land”.
“We achieved a higher level of profitability coming from the sustained growth of our estates and core businesses. Further, we executed our investment program to ensure continued growth in the coming years,” he said in a results announcement.