AYALALAND Logistics Holdings Corp. (ALLHC) increased its net income 15% in 2019, driven by higher revenues from its industrial lots, warehouse and commercial leasing operations.
In a statement Thursday, the listed logistics subsidiary of Ayala Land, Inc. (ALI) said its net income last year grew 15% to P641 million, as revenues similarly rose to reach P5.3 billion.
A bulk of the revenues came from industrial lot sales revenues, which jumped to P1.8 billion from P786 million a year ago. Revenues from leasing warehouses also surged 78% to P285 million, complemented by the 24% increase in commercial leasing revenues to P849 million.
“Our growth is concurrent with the creation of employment opportunities within our developments. With the addition of new industrial estates in key areas across the country, ALLHC continues to solidify its vision of energizing and supporting communities as the company works in creating value through economic activities,” ALLHC President Maria Rowena M. Tomeldan was quoted in the statement as saying.
As of end-2019, ALLHC had 170,000 square meters of warehouse gross leasable area (GLA) and 84,000 square meters of commercial GLA.
The expanded network is backed by the company’s effort to build presence in non-urban areas. ALLHC launched the 105-hectare Laguindingan Technopark and 192-hectare Pampanga Technopark in 2019, on top of opening standard factory buildings in Laguna and Alviera in Pampanga for a total of 33,000 square meters additional GLA.
ALLHC was previously Prime Orion Philippines, Inc. before it rebranded last year, when it said it wanted to pivot to real estate logistics and industrial estate business.
Shares in the company at the stock exchange added one centavo or 0.40% to P2.49 apiece on Thursday. Shares in ALI also increased 25 centavos or 0.59% to P42.45 each. — Denise A. Valdez