ALI H1 income up 28% to P4.37 B

MANILA, Philippines - Ayala Land Inc. (ALI) maintained its upward trajectory in the first half this year with net earnings rising 28 percent to P4.33 billion on steady growth across all product lines.

In a financial report submitted to the Philippine Stock Exchange, ALI said consolidated revenues climbed 18 percent to P25.02 billion, bulk of which or P23.82 billion came from real estate and hotels, which represented an increase of 19 percent from the previous level.

Sales take-up reached P39.08 billion, equivalent to an average monthly sales take-up of P6.51 billion. This was 51 percent higher than the P4.31 billion average monthly sales take-up achieved for the whole of 2011.

The company’s four residential brands launched a total of 9,205 units in the first half of the year, with the programmed schedule of launches for the rest of the year remaining on track.

 “Across the board, we have been consistent in growing revenues and improving margins. Our first half average monthly sales take-up for residential products was again a new record, and our commercial leasing and hotels and resorts businesses continue to perform very well,” said Jaime E. Ysmael, chief financial officer of ALI.

Given robust financial results, the company is well on track to meet its financial targets for the year as well as its P10-billion profit goal by 2014.

Revenues from the residential division grew 24 percent to P13.95 billion, driven by a 57-percent jump in the value of bookings across the residential brands.

Ayala Land Premier, which caters to the high-end segment of the market, reported a 23 percent rise in revenues to P5.11 billion due to strong sales of Elaro lots in Nuvali in Laguna and the steady completion and significant bookings from the condominium units in Park Terraces 3 in Makati City and One Serendra West Tower in Bonifacio Global City.

Mid-market unit Alveo chipped in P3.43 billion in revenues from the first towers of The Maridien in Bonifacio Global City and Solinea in Cebu.

Avida and Amaia likewise posted revenue growth of 45 percent and 88 percent at P3.64 billion and P608 million, respectively, with booking contributions from new projects such as Avida Towers Centera, Avida Towers 34th Street, Avida Parkway Settings Nuvali, and AmaiaScapes Cabanatuan and Bacolod.

Revenues from the sale of commercial and industrial lots went up by 29 percent to P1.35 billion, largely due to the sale of 14 commercial lots and a parcel of raw land in Nuvali, and three industrial lots in Laguna Technopark.

Shopping centers pumped in P2.81 billion to total revenues or an increase of 21 percent mainly due to higher lease rates and the increase in occupied space. Same-store sales rose six percent and nine percent for building and land leases, respectively, buoyed by the strong retail environment.

Revenues from office leasing operations expanded 20 percent to P1.41 billion owing to a 19 percent increase in occupied (GLA) equivalent to 55,000 SQM for business process outsourcing (BPO) office spaces.

Total occupied BPO GLA expanded to 338,000 SQM as of the end of the first half, with an average lease-out rate of 85 percent.