Drawing strength from continued developments in both new and existing estates, Ayala Land, Inc. managed to acquire P4.7 billion in net profit in the year’s first quarter. According to a statement to the Philippine Stock Exchange, the earnings improved by 14% from the P4.12 billion in 2015’s first three months.
In a phone interview, equity analyst Victor F. Felix had this to say: “It’s in line with expectations. The growth is still solid.” Ayala Land looks to target an annual growth of 20% under its 2020 vision. That should allow the group to hit a net income of P40 billion. The company has at least 18 estates, with multiple projects under development within each one.
