Ayala Land posts 34% growth in profit in H1
Ayala Land Inc. said profit for the first half of the year grew 34 percent to P8.1 billion from P6.04 billion.
Revenues rose 9 percent to P53.3 billion from P48.9 billion.
The realtor said property development revenues reached P34.1 billion as solid commercial lot sales cushioned lower residential bookings. The residential revenues reached P27.4 billion.
Office-for-sale revenues were at P1.5 billion while revenues from commercial lots reached P5.3 billion.
“Residential sales reservations totaled P49.3 billion, a 2 percent increase from last year,” it said.
“Sales were driven by Ayalaland Premier’s Ciela Heights at Carmona, Cavite, Avida’s Patio Madrigal at Pasay City, Alveo’s Corvia at Alviera, Pampanga, and Amaia Skies Cubao Tower 3 at Quezon City,” it added.
Commercial leasing revenues reached P14.6 billion.
Shopping center revenues reached P6.9 billion while office leasing revenues reached P5.4 billion.
The realtor’s hotel and resort revenues reached P2.3 billion.
“Strong mall and hotel recovery, resilient office leasing operations, and solid demand for commercial lots led our performance in the first half of 2022. The increased economic activity has enabled our various business segments to generate quarter-on-quarter improvements and support the growth of our diversified real-estate portfolio,” said Bernard Vincent O. Dy, Ayala Land president.
Century Pacific nets P3B
Century Pacific Food Inc. said first half profit grew 9 percent to P3 billion from P2.75 billion in the same period in 2021.
Revenues rose 15 percent to P31.1 billion from P27.04 billion.
The company said its branded business which comprised most of its topline posted an 18 percent increase.
The company saw a resurgence in the performance of its milk business with a year-on-year revenue growth of 23 percent that saw BirchTree’s market share increasing from 22 percent to 24 percent.
The company’s tuna and coconut tolling business grew 6 percent on the back of favorable commodity prices and forex rates and the easing of supply chain pressures.
In terms of profitability, despite increasing input prices, the company’s gross margins held at 25.1 percent, expanding by 20 basis points in the first half.
Dominion Holdings earns P3.7M
Dominion Holdings Inc. (formerly BDO Leasing & Finance Inc. or BLFI) earned P3.7 million for the first six months of 2022 versus P29.1 million a year-ago.
This was largely due to lower income from fair value gain on its investments, consistent with the general decline in interest rates. In addition, total expenses rose to P20.8 million from P9.4 million in 1H 2021, attributed to a Bureau of Internal Revenue tax adjustment for a prior period.
SMFB profit rises 8%
San Miguel Food and Beverage Inc. registered an 8 percent increase in net income to P18.8 billion from P17.41 billion last year.
Revenues posted a 17- percent increase to P172.1 billion from P147.09 billion, driven by gains in volume and pricing adjustment across the product portfolios of its beer, spirits, and food divisions in order to mitigate the impacts of input cost increases.
SMFB’s beer business registered a 20 percent increase in revenues to P65.0 billion, as volumes improved and prices were increase in October last year.
The spirits business registered a 14 percent increase in revenues to P23.1 billion, driven by a 9 percent increase in volumes and also price increases.
The food business recorded a 16 percent increase in revenues to P84 billion, driven by strong volume growth in certain product categories and substantial price pass-ons to partly absorb increasing raw material costs.
Robinsons Retail sales up 15%
Robinsons Retail Holdings Inc. said profit for the first half of the year grew 64 percent to P2.7 billion from P1.64 billion last year.
Sales grew 15.3 percent to P82.4 billion from P71.46 billion.
Earnings before interest, taxes, depreciation and amortizationimproved by 25.8 percent to P7.2 billion.
Profit in the second quarter more than doubled to P1.6 billion compared to P724 million last year on account of good operating performance. Sales grew 19.8 percent to P42.9 billion from P35.81 billion last year driven by the 15.5 percent same store sales growth.
MREIT revenues hit P893M
Real estate investment trust MREIT Inc. (MREIT) said it recorded a P677 million profit in the second quarter of the year.
Revenues were at P893 million.
The company did not provide comparative figures for its result. It listed in October last year.
MREIT said cccupancy for the period was at 96.5 percent as new contracts were secured.
MREIT is declaring a P0.2468 per share cash dividend, which is 1.6 percent higher than the previous quarter.
This brings the company’s annualized dividend yield to 6.2 percent.
“We remain focused on delivering attractive returns to MREIT investors. We continue to manage our assets proactively, which allowed us to register net positive take-up in our portfolio,” said Kevin Tan, MREIT president.
Pryce H1 profit drops 5%
Pryce Corp. said first half profit dropped 4.89 percent to P708.79 million compared to P745.92 million, amid increasing cost of doing business that dampened the recorded uptick in revenues.
Revenues posted a 39.17 percent increase to P9.91 billion from P7.12 billion, attributed mainly to the company’s liquefied petroleum gas (LPG) business.
The LPG business account for 94.98 percent of the group’s topline, with the remainder coming from the industrial gas business (3.56 percent) and the real estate and pharmaceuticals businesses (1.46 percent).
Pryce sold 141,214 metric tons (MT) of LPG for the period, a 12.3 percent increase from last year’s 125,776 MT.
“The increase in sales volume largely occurred in Luzon where margins are lower compared to that in VisMin,” it said.
LPG price averaged $827.92/MT for the period, up by 51.6 percent from the previous semester’s $546.25/MT.
Operating expenses increased by 16.84 percent to P1 billion from P862 million, attributed to inflation and hikes in the price of fuel that raised expenses for transport, wages, services, logistics, and supplies.
