ALI grows profit by 41%
Ayala Land Inc. grew its first half profit by 41 percent to P11.4 billion from P8.08 billion.
Revenues rose 24 percent to P66 billion from P53.22 billion.
Second quarter profit was at P6.9 billion, up 52 percent, over revenues of P35.1 billion, up 14 percent.
The company said property development revenues grew 13 percent to P38.7 billion as it booked higher residential project completion, bookings, and sales of commercial and industrial lots and office units.
Commercial leasing revenues went up 39 percent to P20.2 billion due to higher occupancy and rents. Hotel and resort revenues grew 79 percent to P4.2 billion.
“Our notable performance in the first half of 2023 reflects the sustained resilience of the property market and strong consumer activity in the geographic areas where we operate,” said Bernard Vincent Dy, Ayala Land president.
“Leveraging the positive momentum of the economy, we will capitalize on market opportunities to enhance our diversified portfolio throughout the rest of the year,” he added.
Ayala Land spent P38.7 billion for the period, 55 percent of which was spent on residential projects, 11 percent on commercial projects, 15 percent on land acquisition, 14 percent on estate development, and 3 percent on other purposes.
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MBTC net rises 34%
Metropolitan Bank & Trust Co. (Metrobank) said it grew its profit in the first half of the year by 34.1 percent to P20.9 billion from last year’s P15.58 billion.
“This translated to a 12.9-percent return on equity, higher than the 10 percent recorded in the same period last year,” the third most capitalized bank in the Philippines said.
In the second quarter alone, Metrobank’s profit grew 37.1 percent growth to P10.4 billion from P7.58 billion.
“Our core businesses continued to grow and benefit from our strong balance sheet. As the economy further expands, we see more market opportunities that will keep our upward momentum and sustain our efforts to better serve our customers,” said Fabian Dee, Metrobank president.
Net interest income grew 27 percent to P50.6 billion, with net interest margin growing 50-basis points to 3.9 percent.
Gross loans grew 8.6 percent, with commercial loan up 7.2 percent rise and consumer loan up 14.1 percent.
“Net credit card receivables surged by 28.8 percent while auto loans grew by 17.5 percent, sustaining the growth momentum in the consumer segment,” the bank said.
Metrobank said its deposits grew 9.3 percent to P2.3 trillion, of which low-cost current and savings accounts account for 62.2 percent.
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SMB income jumps 26%
San Miguel Corp. (SMC) brewing unit San Miguel Brewery Inc. (SMB) reported a 14 percent growth in consolidated revenues in the first semester, registering P74.1 billion in sales compared to P65 billion in the same period last year.
The company attributed the growth to the positive sales performance of both its domestic and international operations, combined with a more favorable business environment.
“We continue to see strong demand for our beer products. Through solid marketing strategies and a portfolio mix that gives consumers greater choice, we are able to keep our brands relevant and adapt to changing consumer needs and preferences,” said Ramon S. Ang, SMC president and chief executive officer.
SMB posted consolidated operating income of P16.4 billion, up by 12 percent compared to the same six-month period last the year, while consolidated net income ended at Px13.5 billion, exceeding last year’s level by 26 percent.
SMB’s domestic beer volumes grew 9 percent, boosted by new brand campaigns and offtake-generating programs. International operations meanwhile posted a 16 percent increase in sales volume from its exports business and Hong Kong and Thailand operations.
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Okada operator’s revenues up 62%
Tiger Resort Leisure and Entertainment Inc. (TRLEI), operator Okada Manila, said it generated P24.28 billion in revenue in the first half of the year, a 62- percent increase from the prior year’s P15.36 billion.
“This was mainly driven by the strong performance of its casino business, with gross gaming revenues reaching P22.86 billion, an impressive 60-percent rise from P14.32 billion the year prior,” the integrated casino operator said.
“In the same comparative periods, VIP wins stood at P8.94 billion, a 54-percent growth from P5.79 billion. Mass table games win rose by a faster 58 percent to P5.89 billion from P3.72 million, while gaming machines win grew by 60 percent to P7.70 billion from P4.81 billion,” it added.
Revenues from hotel operations, food and beverage, retail, and entertainment services and other ancillary services – non-gaming revenues – grew 89 percent to P1.95 billion from P1.04 billion.
