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AYALA
Corp., one of the nation’s largest conglomerates,
reported a 57-percent increase in consolidated net
profit from January to June this year to P11.5 billion,
from P7.31 billion a year earlier.
First
semester profit was a result of strong performance in
major business units, coupled with value realization
initiatives and lower financing expense, the company
said in a statement.
“We
continue to see strong demand across most of our
businesses, with our telecom and banking units in
particular achieving record revenue growth in the second
quarter. Clearly this is reflective of the positive
trends we have been seeing in the broader economy as we
continue to see healthy domestic consumption
underpinning the growth in the consumer and services
sector,” president and chief operating officer Fernando
Zobel de Ayala said in the statement.
Unit
Bank of the Philippine Islands turned in a 24-percent
increase in net income to P5.7 billion in first
semester, from the same comparable period last year.
Total revenues rose 18 percent, driven by higher net
interest and non-interest income. Net-interest income
grew 7 percent, despite lower-net interest margins, due
to a 10-percent improvement in average asset base.
Unit
Globe Telecom recorded historic high revenues and core
net income in the second quarter. Overall, wireless
service revenues expanded 12 percent in the first
semester, mainly driven by a sustained popularity of
unlimited SMS, or short message service, and bucket
voice offers, as well as higher prepaid top-up levels.
Wireless subscribers now total over 18 million,
30-percent higher than June 2006 levels. Its wireline
business continued to register modest growth, with
revenues up 3 percent, driven by a continued growth in
broadband services, following significant improvements
in subscriber base. Its net income for the first half
amounted P6.4 billion, up 12 percent year from a year
earlier.
Meanwhile, unit Ayala Land Inc. (ALI), or ALI, which
accounts for 18 percent of the group’s equity earnings,
posted a 12-percent net income growth to P2.1 billion.
Demand for ALI projects remained strong across most
business lines. Revenues from shopping centers were up
9-percent driven by higher average occupancy rate and
average rent.
Water
utility unit Manila Water posted an 18-percent growth in
operating revenues to P3.5 billion. This was attributed
to higher billed volumes, which reached a record of 1.05
billion liters per day, a 13- percent increase
year-on-year. While pretax income rose 30 percent, the
expiration of the company’s income tax holiday in 2006
dragged net income 9-percent lower to P1.1 billion for
the first half of 2007.
Unit
Integrated Microelectronics Inc. posted a 4-percent
growth in revenues to $199 million. Higher general and
administrative expenses, related to its integration
projects, resulted in a 30- percent decline in net
income during the period. Integrated Microelectronics
remains competitive in the global market,
notwithstanding the recent appreciation of the peso,
given its strong customer relationships and proven
capability to deliver quality products and services to
global customers. It recently expanded its manufacturing
capacity with a 12,500 square-foot facility in Shenzhen,
which is its fifth plant in China. |
