Ayala Corp 2012 profit up 12 pct to P10.6-B
MANILA - Philippine conglomerate Ayala Corp's net income rose 12 percent in 2012 supported by strong performances in real estate, banking and water.
Ayala, which has a market capitalization of $8.3 billion making it the country's second most valuable conglomerate, made net profit of P10.6 billion ($261 million) in 2012, up from P9.4 billion in 2011, it said on Monday.
Core net income, which excludes depreciation charges and one-off items, jumped 32 percent to P11.6 billion in the same period.
Ayala owns the country's biggest property firm Ayala Land Inc, its second biggest telecommunications carrier Globe Telecom, and most valuable lender Bank of the Philippine Islands, among other businesses.