AyalaLand Logistics Holdings Corp., a subsidiary of Ayala Land Inc., said over the weekend net income grew 37 percent in the first half to P339 million from the same period last year on the back of higher revenues.
ALLHC said in a disclosure to the stock exchange first-half revenues increased 8 percent to P1.6 billion, led by the steady demand for industrial lots , which contributed P657 million in revenues, up 8 percent from P611 million a year ago.
Warehouse leasing segment also grew its top line to P351 million, a 70-percent hike from P206 million, boosted by improved overall occupancy and the inclusion of 64,000 square meters of new gross leasable area from ALogis Sto. Tomas which it acquired early this year.
Revenues from cold storage revenues went up 371 percent to P57 million from P12 million. “The first half of the year showed encouraging results given the continuing reopening of the economy. Growth momentum for our bottom-line was sustained as operations remained stable,” ALLHC chief operating officer Patrick Avila said.
