With leading equity earnings contributions from its property development and energy subdivisions, Ayala Corporation saw a 16 percent increase in its net income for the year 2017.
Ayala Corporation president and COO Fernando Zobel de Ayala stated that they “are happy to see this earnings momentum sustained”, saying that the recorded “double-digit growth” for six consecutive years, “has translated to a compounded annual growth rate of 22%”, according to Rappler.
The conglomerate registered a P30.3 billion net income in 2017, following 2016’s P26 billion, Ayala Corporation disclosed to the Philippine Stock Exchange (PSE) Monday, Rappler reported.
A 12 percent rise in equity earnings contributions, amounting to P35.8 billion, from the corporation’s various ventures was recorded, with the group’s property development arm Ayala Land Incorporated (ALI), and energy unit AC Energy Holdings Incorporated playing key roles in the progress.
ALI’s equity earnings contributions increased by 21 percent, noted the news report, registering net earnings worth P25.3 billion in 2017. Property sales amounted to P122 billion, recording a 13 percent growth, while leasing revenue amounted to P31 billion, reflecting a 10 percent increase.
AC Energy, on the other hand, saw a 30 percent increase in earnings, amounting to P3.5 billion.
Story first appeared here.