Conglomerate Ayala Corp. said Friday net income jumped 56 percent in the first half to P16.3 billion, driven by higher earnings from core banking, property and telecommunication businesses.
Ayala said in a disclosure to the stock exchange six-month revenues rose 11 percent to P77 billion from P69.34 billion posted in the same period last year.
Ayala said the strong performance of banking, property and telecommunications businesses mitigated the softer results from power generation unit AC Energy Corp.
“Our group’s performance in the first half reflects the momentum of the country’s reopening. This is particularly evident in our cyclical units Ayala Land Inc. and Bank of the Philippine Islands, which significantly rebounded in the second quarter amid revitalized mobility and consumer confidence,” Ayala president and chief executive Fernando Zobel de Ayala said.
“However, Ayala is cognizant of the current macroeconomic headwinds that have impacted our businesses in varying degrees. While this is the case, we believe that there is still growth to be realized for the rest of the year with what we are seeing on the ground,” Zobel de Ayala said.
BPI’s net income expanded 73 percent in the first half to P20.4 billion on robust loan growth, higher net interest margins and lower loan loss provisions, boosted by a gain from property sale.
ALI’s net income went up 34 percent in the six-month period to P8.1 billion on improved operations of various business segments in the second quarter as local economic activities progressed.
Globe’s net income increased 51 percent to P19.7 billion as of June, boosted by higher revenues from data services and growth from non-telco revenues and a net gain from the partial sale of its data center business.
ACEN’s net income decreased by 19 percent to P2.2 billion in the first half on combined effect of Ayala’s consolidation of its reduced ownership in ACEN and various one-offs incurred in the first quarter.