Ayala Land Jan-Sept net income down 73 pct, notes 'improvement' in majority of business lines

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MANILA – Ayala Land Inc on Friday said net income dropped 73 percent in the first nine months of year to P6.

4 billion as businesses continue to reel from the pandemic, but encouraged by improved revenue performance in the second and third quarters.

Consolidated revenues reached P63.3 billion in the first nine months of the year, 48 percent lower for the period. Property development revenues more than doubled to P15.7 billion in the third quarter from P7.6 billion in the second quarter, while reservations picked up 66 percent to P22.5 billion.

 

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