AyalaLand Logistics Holdings Corp. (ALLHC) said profit for the first quarter of the year reached P211 million, up 18.53 percent from last year’s P178 million.
Revenues stood at P1.3 billion, up 85.18 percent from P702 million.
“Demand for industrial lots remained steady with industrial lot sales revenues registering at P851 million. This was mainly attributable to booked lot sales at Laguindingan Technopark paired with higher completion rates for industrial estates undergoing development works,” the company said.
“Revenues from warehouse leasing reached P175 million, a 15 percent increase versus the same period last year, on account of higher overall occupancy. Cold storage ended the quarter with P41 million in revenues, up by 3 percent from last year,” it added.
The company said commercial leasing totaled P237 million, driven by improved mall occupancies and rental rates.
“ALLHC’s performance in the first quarter was promising and sets a positive tone for the year ahead. With all core business lines showcasing notable improvements, we look forward to sustaining this growth momentum over the course of the year,” said Robert Lao, ALLHC president.
“Remaining focused on our expansion objectives, we are hopeful for the steady growth and progress of our businesses this year,” it added.
The company said it expects to complete in the second quarter of the year its first build-to-suit (BTS) facility in Cavite Technopark and the ALogis Mabalacat warehouse facility in Pampanga Technopark.
“Together, the two facilities will add 22,000 square meters of warehouse gross leasable area upon construction completion. ALLHC is also set to open its ALogis Artico Santo Tomas and ALogis Artico Mabalacat cold storage facilities within the period,” it said.
The facilities will add 5,000 pallet positions each to ALLHC’s portfolio.
ALLHC will launch the second phase of its ALogis Mabalacat warehouse facility within the second quarter. This expansion is expected to add 18,000 square meters of gross leasable area in the warehouse portfolio upon delivery.
“These projects are in line with the company’s direction to build up its asset portfolio and strengthen its leasing segments,” the company said.
