Ayala Stocks at Philippine Stock Market
Ayala Corporation, in a disclosure to the Philippine Stock Exchange, reported a consolidated net income of P2.1 billion for the first three months of the year.
This is at par with the P2.2 billion net earnings in the same period in 2009.
Equity earnings from its business units rose by six percent, driven by higher equity earnings from its real estate unit Ayala Land, Inc. and a significant turnaround in equity earnings from AC Capital.
Equity earnings from Ayala Land also climbed by 31 percent year-on-year driven by the sustained recovery in the real estate sector.
Ayala Land attained record-high quarterly net income of P1.2 billion in the first quarter, 32 percent higher than those breached in the first quarter of 2009 as it achieved record sales and bookings from its residential project launches.