Ayala Land Inc. (ALI) reported that their revenues sore up it’s net income during the first quarter of 2011.
According to their report to the Philippine Stock Exchange (PSE), ALI said that their earnings jumped 36% to P1.6billion from P1.2billion in the Jnauary-MArch period last year.
Total expenses for the period jumped 9% to P7.42billion.
“The company spent a total of P5.68 billion for project and capital expenditures in the first three months of 2011, 66 percent more than P3.41 billion spent during the same period in 2010,” ALI told the PSE.
“The bulk of capital expenditure in the first quarter was attributable to residential development (41 percent), landbank acquisition (31 percent), shopping centers (15 percent), hotels and resorts (10 percent), with the balance spent on BPO offices, commercial and industrial lot development, and other land development activities in the company’s strategic landbank areas,” it added.