P8.6B net income in first 9 months of 2021

·1 min read

Ayala Land Inc. (ALI) has recorded consolidated revenues of P72.6 billion and net income of P8.6 billion in the first nine months of 2021, up 15 percent and 35 percent respectively, compared to the same period in 2020, as business operations continued to improve despite the reimposition of stricter quarantine restrictions from August to September.

In the third quarter alone, the company posted net income of P2.6 billion, a 38 percent growth from the same quarter last year. Driven by continuing construction progress and higher bookings, ALI’s property development revenues rose 27 percent to P51.5 billion.

Sales reservations for the first nine months of 2021 also grew by 15 percent to P70.1 billion largely due to the strong sales performance earlier in the year.

ALI generated P21.8 billion in sales in the third quarter, 11 percent higher than the second quarter of 2021, but a slight drop of three percent quarter-on-quarter, reflecting sustained demand despite the enhanced community quarantine. (PR)

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