Ayala Corp reports 2020 profit fall, Q4 recovery bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
The second real estate investment trust in the country will be available to the public before the closing of the first quarter of the year.
DoubleDragon Properties Corp.’s DDMP REIT Inc. will debut on the local stock market on March 23, as the Philippine Stock Exchange gave a green light to its initial public offering (IPO) recently, the ABS-CBN News reported. It is the first company to launch a public offering in 2021.
The IPO will run from March 10 to 16, after the announcement of the final offer on March 5. DDMP REIT will offer up to 5.94 billion secondary common shares with an oversubscription option of 594.25 million shares. Investors can secure their share at P2.25 per piece.
Photographer: SeongJoon Cho/Bloomberg
In a disclosure to the Philippine Stock Exchange, IMI said revenues dipped to $1.14 billion in 2020 from $1.25 billion in 2019.
However, with demand for electronics products continuing to rise, IMI achieved its highest quarterly performance with a revenue record of $347 million in the fourth quarter of 2020, an increase of 12 percent over the same period in 2019.
The strong rebound of IMI’s focus segments, along with improved manufacturing efficiency, drove fourth quarter gross margin levels from 7.4 percent in 2019 to 10.3 percent in 2020.
Net income amounted to $8.4 million for the fourth quarter.
Wholly-owned businesses grew 6 percent year-on-year to US$262 million of revenue in the fourth quarter. The global demand for security and I-o-T products boosted industrial revenue while mobility-focused European and North American facilities benefitted from the rapid rise of global automotive production.
AREIT, Inc. (AREIT), the real estate investment trust of Ayala Land, Inc. (ALI), reported a net income of P1.23 billion last year, up 42 percent if excluding a one-time gain in 2019.
In a disclosure to the Philippine Stock Exchange, the firm said the higher profit is on account of its stable oper
Engineering Plastics Market Insights, Industry Outlook, Growth Trends and Demand 2021 – KSU ksusentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ksusentinel.com Daily Mail and Mail on Sunday newspapers.