AC Saw A Growth
Ayala Corporation (AC) saw a growth in its net income by 7% this third quarter of the year 2019. The firm believed that this was due to the sustained contribution of its major units such as power and banking segments. In a disclosure statement, AC said that from July to September, the net income reached P8.3 billion. This has brought the attributable income for the nine-month period to P46.16 billion or double the P23.86 billion generated last year during the same period. Wow! That’s quite a great performance by AC. Let’s see how the other figures increase.
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Revenue Growth Of AC
If we talk about the consolidated revenues of AC, it climbed by 4% or equivalent to P232.88 billion during the nine-month period this year. This was followed by a 4% increase in total costs as well or equal to P171.85 billion. Ayala Land, Inc. had contributed the biggest portion of revenues. P23.2 billion of it came from this real estate segment, 12% higher than its last year’s revenues. The jump in revenues is because of the growth of sales in office segments which accounted for 51%, commercial leasing revenues for 16%, and commercial and industrial lot sales for 16% during the past nine months.
AC Energy, Inc. Performance
AC Energy, Inc. also reported an increase in profit to P24.3 billion at the end of the nine-month period. Last year, its profit was at P2.8 billion. This is a major step for AC Energy as there was a really big difference from the prior year performance. What’re the reasons? It is because the figure was brought up by the recovery of costs spent from the adjustments in construction and operation of the existing and new power plants of AC and gains from the partial divestment of the thermal assets of the company.
AC’s Other Business Segments
Bank Of The Philippine Islands (BPI) saw a 30% increase year-on-year on its net income to P22 billion. The revenues for the bank were 25% higher to P71 billion and net interest income jumped by 20% to P48.7 billion for nine months. Meanwhile, Globe Telecom, Inc. was able to expand its net income to P17.7 billion or 20% higher compared to last year because of the growth in sales of data-related products and an increase in its subscribers. Manila Water Co., Inc. on the other hand, had a decrease in net income by 11% due to the shortage of supply.
