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Philippines' Ayala Corp 2012 profit up 12 pct
MANILA, March 11 |
MANILA, March 11 (Reuters) - Philippine conglomerate Ayala Corp's net income rose 12 percent in 2012 supported by strong performances in real estate, banking and water.
Ayala, which has a market capitalisation of $8.3 billion making it the country's second most valuable conglomerate, made net profit of 10.6 billion pesos ($261 million) in 2012, up from 9.4 billion pesos in 2011, it said on Monday.
Core net income, which excludes depreciation charges and one-off items, jumped 32 percent to 11.6 billion pesos in the same period.
Ayala owns the country's biggest property firm Ayala Land Inc, its second biggest telecommunications carrier Globe Telecom, and most valuable lender Bank of the Philippine Islands, among other businesses.
For more on the company's earnings results, click on link.reuters.com/tut56t
($1 = 40.68 Philippine pesos) (Reporting by Rosemarie Francisco; Editing by Daniel Magnowski)
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