Philippines' Ayala Land 2012 profit jumps 27 pct to record

MANILA Wed Feb 13, 2013 12:16am EST

Related Topics

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

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

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.