MANILA, Nov 13 (Reuters) - Philippine conglomerate Ayala Corp reported a 19 percent rise in nine-month profit as its property and banking segments gained from robust domestic demand in one of Asia’s fastest-growing economies.
Ayala, the country’s eighth most valuable firm, said on Tuesday it had a net profit of 8.7 billion pesos ($212 million) in January to September. Core net income, which excludes depreciation charges and one-off items, jumped 31 percent to 9.3 billion pesos in the same period.
Ayala owns the country’s biggest property firm, Ayala Land Inc, second-biggest telecommunications carrier Globe Telecom, and most valuable lender, Bank of the Philippine Islands.
It also owns Manila Water Co and Integrated Microelectronics Inc and has interests in business process outsourcing, car dealerships, power generation and tollroads.
$1 = 41.0900 Philippine pesos Reporting by Erik dela Cruz; Editing by Matt Driskill and Rosemarie Francisco