Philippines' Ayala Land 2012 profit jumps 27 pct to record

MANILA Wed Feb 13, 2013 12:16am EST

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MANILA Feb 13 (Reuters) - Ayala Land Inc, the largest property developer in the Philippines, said full-year net profit rose 27 percent to a record level as robust economic growth helped it sell more homes and lease out bigger commercial spaces.

Net profit rose to 9.04 billion pesos ($222 million) from 7.14 billion pesos the year before, the company said in a statement on Wednesday.

Ayala Land, which builds residential complexes, high-rise condominium and office buildings in addition to operating shopping malls, hotels and resorts, said consolidated revenue grew 23 percent to 54.5 billion pesos.

For the full statement, click on link.reuters.com/qat85t

($1 = 40.695 Philippine pesos) (Reporting by Erik dela Cruz and Rosemarie Francisco; Editing by Edwina Gibbs)

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