AyalaLand Logistics Holdings Corporation (ALLHC), a subsidiary of Ayala Land, Inc., posted a net income of P500 million in the first nine months of 2019, up 164% from the P189.466 million earned in the same period last year.
ALLHC, in a statement, said a portion of the growth was attributable to the gain from the sale of shares held by a subsidiary.
Revenues increased 64% to P3.2 billion for the period January to September 2019 from P1 billion in the same months last year.
Leasing revenues from warehouses and commercial centers registered at P755 million, a 31% growth from last year’s P579 million. Concurrently, industrial lot sales grew to P560 million, almost double from the P283 million booked in the previous year.
Revenues of industrial parks and real estates Laguna Technopark, Inc., Tutuban Properties, Inc., LCI Commercial Ventures, Inc., and Orion Land, Inc. all grew, by 79%, 10%, 26%, and 103%, respectively.
For the first nine months of the year, capital expenditures on land acquisition, equity purchase, and developments reached P3 billion, supporting the company’s thrust for geographical expansion.
“ALLHC’s sustained positive financial results for the first nine months continue to show that we are in the right direction as we diversify and work towards a balanced portfolio. We aim to close the year 2019 strong and to start 2020 with the same optimism,” ALLHC president Maria Rowena M. Tomeldan said.
ALLHC said it will break ground this month for the expansion of its warehouse facilities in Alviera Industrial Park in Porac, Pampanga. This expansion is expected to generate an additional 12,000 square meters of gross leasable area for the company, and support its vision of becoming the leading industrial park and real estate logistics developer and operator in the country.