Ayala Corp posts P31.8 billion net income in 2018


Posted at Mar 13 2019 11:26 AM | Updated as of Mar 13 2019 11:59 AM

MANILA - Ayala Corp said Wednesday its net income rose 5 percent to P31.8 billion in 2018, driven by strong earnings in real estate, telecommunications and power.

Ayala Land's net income rose 16 percent to P29.2 billion due to its property development and commercial leasing business, Ayala Corp said.

Data-driven demand boosted Globe Telecom's net profit to P18.6 billion last year while AC energy's net earnings grew 16 percent to P4.1 billion in 2018, the conglomerate said.

Ayala Corp said it was maintaining P262 billion in combined capital expenditures for 2019, which includes P130 billion for Ayala Land and P63 billion for Globe.