AyalaLand Logistics Holdings Corp. saw first-quarter net income rise 19 percent to P211 million, with double-digit revenue growth fueling a recovery from the downturn last year.
Revenue jumped 85 percent to P1.3 billion on steady demand for industrial lots, particularly at the Laguindingan Technopark and recently completed projects, and growth in the leasing revenue for warehouses, cold storage facilities, and shopping malls, where occupancies and rental rates are up.
AyalaLand Logistics president and chief executive officer Robert Lao said first-quarter results set a positive tone for the rest of the year, especially with the company’s focus on its expansion plans. “With all the core business lines showcasing notable improvements, we look forward to sustaining this growth momentum over the course of the year,” he said.
The company expects to complete in the second quarter its first build-to-suit facility at the Cavite Technopark and the Alogis Mabalacat warehouse facility that together will add a combined 22,000 square meters of gross leasable space. It also expects to open cold storage facilities in Mabalacat, Pampanga and Sto. Tomas, Batangas that wil each offer 5,000 pallet positions to AyalaLand Logistics customers.
