AyalaLand Logistics Holdings Corp. posted profits of P150 million in the first quarter of the year on revenues of P1.2 billion.
The topline growth was driven by industrial lot sales revenues amounting to P351 million and warehouse leasing revenues of P109 million, the company said.
“Commercial leasing revenues remained flat at P186 million as a result of the closure of Tutuban Center and South Park Center in mid-March 2020, except for a few establishments providing essentials, following the enhanced community quarantine (ECQ),” AyalaLand Logistics said.
The company said during the quarantine period, it focused on the safety and well-being of its employees, customers, merchants, locators and the community.
“In line with the Ayala Group’s initiatives to address the pandemic, the company extended assistance to those affected. Rent reprieve during the ECQ period was granted to mall merchants who temporarily stopped operations. Free parking was offered to customer of essential establishments such as supermarkets, drugstores, banks, and other basic services,” it added.
The company’s frontlines were given basic necessities and it continues to provide assistance to locators and retail and office tenants that remain operational in all its development.
“Our efforts to build up our assets in 2019 with additional industrial estates and logistics facilities have been notable in delivering these first quarter results. We believe that continuously growing and enhancing our assets will effectively bring the company forward,” said Maria Rowena Tomeldan, AyalaLand Logistics president.
