Ayala logistics unit earns P354 million
MANILA, Philippines — AyalaLand Logistics Holdings Corp. (ALLHC), the logistics arm of Ayala Land Inc., recorded a net income of P354 million in the nine months to September.
This is 37 percent lower compared to the P565 million registered in the same period last year.
Consolidated revenues reached P2.1 billion, also down compared to P2.8 billion a year ago.
The company, however, said domestic demand for industrial lots remains strong with sales reservations totaling P1.4 billion during the period, 10 percent higher than last year’s numbers.
Warehouse leasing recorded P510 million in revenues, a two percent decline versus last year, due to lower average occupancy during the period.
This is mainly attributed to the facilities upgrade in ALogis Calamba, which was completed and leased at the end of the second quarter. ALLHC successfully tenanted a total of 51,000 square meters in ALogis Calamba to logistics companies in May and September of this year.
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