Ayala nets P18B in H1
Ayala Corp. registered a profit growth of 13.15 percent in the first half to P18.41 billion from P16.27 billion last year.
Revenues hit P164.24 billion, up 19.3 percent from P137.66 billion.
“Strong results from BPI (Bank of Philippines Islands), Ayala Land Inc., and ACEN Corp.
compensated for the one-off provisions booked by AC Industrials. For the balance of the year, we will build on our solid first half results and continue to recycle capital wherever it makes sense to do so,” said Cezar Consing, Ayala chief executive officer.
BPI posted a profit of P25.1 billion, up 23 percent from P20.4 billion, driven by average asset base expansion, margin growth, and reduced provisions.
Ayala Land recorded a profit growth of 41 percent to P11.4 billion from P8.08 billion as its property development and commercial leasing businesses registered higher revenues.
ACEN’s profit grew 94 percent to P4.2 billion from P2.16 billion, due to higher net generation from a stronger wind regime and increased operating capacity that enabled a shift to a net selling merchant position.
AC Energy & Infrastructure, the parent company of ACEN, grew its profit P6.9 billion due to improved contributions from ACEN and GN Power Dinginin and a gain from the full divestment of GN Power Kauswagan.
Globe Telecom Inc. posted profit of P14.4 billion, down 27 percent from P19.72 billion, mainly due to a one-time gain from the partial sale of its data center business being registered last year and higher operating expense, offsetting a two percent growth in gross service revenues.
MPIC profit rises 8%
Metro Pacific Investments Corp. (MPIC) said profit for the first half of the year went up 8 percent to P10.2 billion from P9.5 billion last year. Revenues grew 20.91 percent to P29.37 billion from P24.29 billion last year.
The company reported that on a core profit basis, the bottomline was at P9.9 billion, up 33 percent from P7.5 billion.
Chaye Cabal-Revilla, MPIC chief finance officer, expressed confidence the company will exceed its target of P16.1 billion in core profit for the year.
“Our highest core income ever was P15.6 billion, that was at the pre-pandemic level. At P16.1 billion, which is our budget target for the year, we’re likely to exceed (that) given the trending of our core businesses are also exceeding their targets,” she said.
MPIC in a statement said its operating units delivered a 27 percent increase in contribution from operations, mainly driven by its power generation business and water concession attributed to higher water tariff.
Power contributed P9 billion, 72 percent of net operating income, while the tollroad business and water concession contributed P2.7 billion and P2.3 billion, respectively.
“Our consistently strong performance reflects significant volume increases for our core businesses on power, toll roads, and water, bolstered by favorable tariff adjustments and savings resulting from operational efficiencies. We are also realizing the fruits of strategic investments in the power generation business, and we expect this to continue to be a driver of growth in the future,” said Manuel Pangilinan, MPIC chairman.
Alsons earnings jump 70%
Alsons Consolidated Resources Inc. (ACR) grew its first half profit by 70 percent to P1.17 billion from P689 million in 2022.
Revenues rose 27.8 percent to P6.9 billion from P5.4 billion.
The company attributed the performance to the operations of the 210 megawatts (MW) coal-fired power plant in Sarangani which currently provides power to key areas in Mindanao as well as its 100 MW Western Mindanao Power Corp. (WMPC) diesel plant in Zamboanga City.
The company said it is focused on building up its renewable energy capacity in the next few years with several renewable energy facilities in the company’s pipeline with the 14.5 MW Siguil Hydro power plant in Maasim, Sarangani eyed to be the first that is eyed to be operational before the end of 2023.
AGI revenues grow 20% to P99B
Alliance Global Group Inc. (AGI) recorded first half profit of P14.2 billion, up 19 percent from P12 billion last year.
Revenues grew 20 percent to P99.1 billion from P82.6 billion, driven by the sustained improvement in mobility and discretionary spending which benefitted all of its business segments.
“The Alliance Global Group delivered another strong interim financial and operating performance even amidst the global and local economic challenges that affected all businesses during the period and the stiffer competition in the market place,“ said Kevin Tan, AGI chief executive officer, AGI.
Megaworld Corp. posted profit of P7.9 billion, up 34 percent from P5.9 billion last year.
Revenues grew 17 percent to P32 billion, with real estate sales contributing 60 percent of total, up 12 percent. Sales reservation was at P76.1 billion, up 49 percent.
Emperador Inc. posted profit of P4.7 billion, down 9 percent from P5.2 billion last year.
Revenues grew 11 percent to P31.1 billion from P28.1 billion.
Golden Arches Development Corp., which owns the master franchise of McDonald’s for the Philippines, recorded profit of P972 million, up 27 percent. Revenues were at P20.2 billion, 31 percent than the P15.4 billion the year before.
Vista Land H1 net at P5.8B
Vista Land & Lifescapes Inc. grew it profit by 82.96 percent to P5.8 billion in the first semester of the year from P3.17 billion in the same period in 2022.
Revenue hit P18.3 billion, up 8 percent from P16.94 billion.
Real estate revenue registered at P8 billion while rental income amounted to P7.9 billion.
“We are pleased with our performance for the first semester of 2023 as we have sustained our growth trajectory for the year. We have been launching more projects this year compared to last year. These launches will form part of our huge project pipeline,” said Manuel Villar Jr., Vista Land chairman.
“It’s also a big factor in our reservation sales performance which generated a total of P35.6 billion for the first semester which is 12 percent higher from same period last year,” he added.
Villar said the group’s overall strategy remains to be “maximizing our land to its best use.”
Vista Land landbank currently stands at 3,085 hectares spread across the country.
The company closed the period with assets of P335.4 billion, with equity at P129.3 billion.
Net debt to equity was at 84 percent. Capital expenditure amounted to P12.2 billion mainly for construction and land development.
FilREIT posts P561M profit
Filinvest REIT Corp. (FILRT) said first half profit hit P561 million, over revenues of P1.58 billion.
“Despite the challenges faced by the office leasing sector in the past 12 months brought about by the rightsizing and recalibrating of multinational tenants’ hybrid work setups, the sector is resilient and headed towards recovery. More locators are now experiencing the advantages of working back in the office from increased productivity supported by a vibrant workplace and community,” said Maricel Brion-Lirio, FILRT president.
Lirio said FILRT is diversifying its tenant mix with traditional tenants and co-working locators with whom FILRT has signed over 4,000 square meters to date. “Current tenant mix is comprised of 79 percent multinational BPO companies, 10 percent resort following the infusion of the Boracay property, 10 percent traditional office and co-working, and the small remainder taken up by retail tenants,” she said.
“FILRT has zero POGO (Philippine offshore gaming operation) exposure,” she added.
FILRT has declared a P0.071 per share dividend covering its third quarter profit, maintaining the same level as the previous two quarters. The dividends will be payable on September 20, to stockholders on record as of August 31.
“This declaration brings year-to-date dividends to P0.213 per outstanding common share which is equivalent to an annualized yield of 8.5 percent based on the previous day’s market price, which is higher than the industry average,” the company said.
Shakey’s income doubles
Shakey’s Pizza Asia Ventures Inc. grew its first half profit by 96 percent to P489 million from P250 million last year.
Systemwide sales grew 51 percent to P8.8 billion from P5.82 billion last year, with same-store sales growth (SSSG) at 27 percent. The company however failed to reveal its reported revenues.
Shakey’s said it closed that period with a global network of 1,936 stores and outlets, including 268 Shakey’s, 74 Peri-Peri and 1,583 Potato Corner outlets. The Group’s network increased by 164 in the first half of 2023.
“Given its first half performance and expectation for the balance of the year, Shakey’s is upgrading its full year 2023 growth outlook to better than 30 percent for both top and bottomline,” the company said.
