Ayala Land Nets P4.7 Billion in First Quarter

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.

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