Published May 8, 2021, 6:30 AM
AyalaLand Logistics Holdings Corp. (ALLHC) posted a 10 percent improvement in net income to P165 million in the first quarter of 2021, driven by tightened spending and cost-management initiatives amidst the challenging environment.
In a disclosure to the Philippine Stock Exchange, the firm said consolidated revenues amounted to P964 million, 19.67 percent lower than in the same period last year.
Revenues from the sale of industrial lots registered at P383 million, 9 percent higher compared to last year’s P351 million attributed to lot sales at Pampanga Technopark, reflecting healthy demand from local locators.
Improvement in rentals and recoveries helped boost warehouse leasing revenues, growing 13 percent to P123 million from P109 million.