AyalaLand Logistics says Q1 profit rises 18% to P211 million
LISTED AyalaLand Logistics Holdings Corp. (ALLHC) said its first-quarter (Q1) net income rose by 18% to P211 million on strong demand and higher revenues.
The company’s first-quarter consolidated revenues reached P1.3 billion, up by 85% from P702 million last year, ALLHC said in a regulatory filing on Tuesday.
Industrial lot sales revenue reached P851 million, led by the steady demand for industrial lots, it added.
“This was mainly attributable to booked lot sales at Laguindingan Technopark paired with higher completion rates for industrial estates undergoing development works,” ALLHC said.
Warehouse leasing revenue improved by 15% to P175 million on higher overall occupancy. Cold storage revenue increased by 3% to P41 million.
Commercial leasing revenue hit P237 million due to better mall occupancies and rental rates, the company said.
“ALLHC’s performance in the first quarter was promising and sets a positive tone for the year ahead. With all core business lines showcasing notable improvements, we look forward to sustaining this growth momentum over the course of the year,” ALLHC President and Chief Executive Officer Robert S. Lao said.
“Remaining focused on our expansion objectives, we are hopeful for the steady growth and progress of our businesses this year,” he added.
For the second quarter, ALLHC is aiming to complete its first build-to-suit facility in Cavite Technopark and the ALogis Mabalacat warehouse facility in Pampanga Technopark. The two facilities will add 22,000 square meters of warehouse gross leasable area once completed.
ALLHC will also open ALogis Artico Santo Tomas in Batangas and ALogis Artico Mabalacat in Pampanga within the same period. The two cold storage facilities will add 5,000 pallet positions each to the company’s portfolio.
The company also targets to introduce the second phase of its ALogis Mabalacat warehouse facility within the second quarter.
On Tuesday, ALLHC shares retreated by 1.05% or two centavos to P1.89 per share. — Revin Mikhael D. Ochave