Related News
Declines dent Ayala net income
Source: Agencies |
May 16, 2009, Saturday
|
Print Edition
Print Edition
AYALA Corp, one of the Philippines' top conglomerates, said net income in the first quarter fell 18 percent from a year ago due to declines in its real estate and electronics businesses. The company said profit fell to 2.2 billion pesos (US$46 million).
Ayala's telecom and banking arms - Globe Telecom Inc and Bank of the Philippine Islands - posted double-digit growth, but Ayala Land Inc's earnings plunged 51 percent.
Ayala said sales of electronics manufacturing unit Integrated Microelectronics Inc contracted 26 percent, while interest expense and non-cash charges resulted in a combined net loss of 307 million pesos for its business process outsourcing companies.
"We are pleased to see some degree of resiliency in domestic demand despite the slowdown in the global economy," said president Fernando Zobel de Ayala.
The conglomerate also has interests in water distribution and mall operations.
Ayala's telecom and banking arms - Globe Telecom Inc and Bank of the Philippine Islands - posted double-digit growth, but Ayala Land Inc's earnings plunged 51 percent.
Ayala said sales of electronics manufacturing unit Integrated Microelectronics Inc contracted 26 percent, while interest expense and non-cash charges resulted in a combined net loss of 307 million pesos for its business process outsourcing companies.
"We are pleased to see some degree of resiliency in domestic demand despite the slowdown in the global economy," said president Fernando Zobel de Ayala.
The conglomerate also has interests in water distribution and mall operations.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
