AyalaLand Logistics Holdings Corp. recorded profit of P402 million in the first nine months of the year, up 117 percent from last year’s P185.25 million.
Revenues hit P2.6 billion, up 12 percent from last year’s P2.3 billion.
Revenues from industrial lots sales amounted to P1.1 billion, rising 126 percent versus P511 million the previous year, as domestics demand for industrial lots continues.
Warehouse leasing revenues rose to P299 million, up 6 percent from the previous year’s post of P282 million, due to gross leasable area completed in 2020 being taken up.
AyalaLand Logistics said the renewed restriction and rental assistance to tenants “continued to weigh down commercial leasing operations,” with revenues from its Tutuban Center and South Park Center down 16 percent to P311 million compared to last year’s P369 million.
“Cushioning the impact is South Park Corporate Center’s office leasing operations with its 100 percent lease-out rate,” the company said.
“We see signs of recovery in our business lines with industrial lot sales driving significant improvement in our overall performance this quarter. While the current business environment still proves to be challenging, we trust that our growing diversified portfolio of assets will keep ALLHC resilient amid the ongoing crisis,” meanwhile said Maria Rowena Tomeldan, AyalaLand Logistics president.
