Ayala Land 2019 Profit Up 13% at PHP33.2 Billion
By Ben Otto

Philippine property developer Ayala Land Inc. reported 2019 net income rose 13% partly due to strong sales in office, commercial and industrial lots.

Ayala Land, a unit of Manila-based conglomerate Ayala Corp., posted net income of 33.2 billion Philippine pesos ($657.8 million) for the year, the company said in a stock-exchange filing Friday.

Revenue for the year was PHP168.8 billion, up about 2% on year, it said.

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