MANILA, Nov. 12 (PNA) — Philippine conglomerate Ayala Corp. on Thursday said its profit surged by 26 percent in the first nine months of the year, driven by robust telecommunications, real estate and banking businesses.
In a disclosure to the Philippine Stock Exchange, Ayala said net income reached Php7.3 billion in the third quarter, bringing nine-month figure to Php17.7 billion from Php14.1 billion during the same period last year.
“Our growth trajectory remains strong as we continue to be optimistic about the overall domestic environment,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala said.
Excluding the capital gains primarily from the partial sale of AC Energy’s stake in North Luzon Renewable Energy Corporation this year and the divestment of Stream Global Services in the previous year, Ayala’s nine-month earnings recorded robust growth of 23 percent from a year ago.
This solid performance was underpinned by the strong double-digit growth in equity earnings contribution from Ayala’s business units, which reached Php21.4 billion, 14 percent higher than its year-ago level.
The robust demand for data services across mobile, broadband and fixed line segments boosted profit of Globe Telecom by 34 percent to Php14.1 billion.
Bank of the Philippine Islands posted a net income of Php13.8 billion, up 8 percent from the previous year, as its core banking business continues to grow at a healthy pace.
Ayala Land Inc.’s (ALI) net income for the first nine months of the year expanded 19 percent to Php12.8 billion, fueled by the sustained growth in residential development, office sales and commercial leasing segments.
ALI launched various residential, office for sale and leasing projects amounting to Php97.9 billion during the period.
Manila Water net earnings rose slightly one percent to Php4.6 billion after total billed volume rose 2 percent.
Integrated Micro-Electronics Inc. posted a net income of USD 22 million in January to September, up five percent year-on-year on the back of operational efficiency improvements combined with the expansion of its automotive programs.
IMI’s revenues declined four percent to USD621 million owing to weakness in Euro coupled with a weak China economy which impacted its computing and consumer segments.
AC Energy Holdings posted a net income of Php1.6 billion in the first nine months of 2015 as its power generation assets achieved more efficient operating levels.
It also realized a gain from the partial sale of its stake in North Luzon Renewable Energy Corporation, an 81-megawatt wind farm in Ilocos Norte. (PNA)