November 7, 2012 / 5:39 AM / in 5 years

Philippines' Ayala Land 9-mth profit up 27 pct

MANILA, Nov 7 (Reuters) - The Philippines’ largest property developer Ayala Land Inc posted a 27 percent rise in nine-month profit as a robust economy drove home purchases.

Ayala Land, owned by conglomerate Ayala Corp, said on Tuesday its net profit in January to September rose to 6.6 billion pesos ($161 million) from 5.2 billion pesos a year earlier.

The builder of residential towers and enclaves, office buildings, and hotels, and operator of shopping malls and resorts, said consolidated revenue grew 20 percent from a year earlier to 32.63 billion pesos.

$1 = 41.2 pesos Reporting by Erik dela Cruz; Editing by Rosemarie Francisco

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