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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Ayala Corporation    AC   PHY0486V1154

AYALA CORPORATION

(AC)
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Ayala : Land Expects PHP17.7 Billion in First-Phase Sales at Mixed-Use Development

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10/18/2019 | 05:15am EST

By Ben Otto

Philippine property company Ayala Land said Friday that it launched a 120-hectare mixed-use development near Manila, and expects the first phase to generate 17.7 billion pesos ($344.8 million) in sales.

In a filing to the local stock exchange, Ayala Land said subsidiary ALVEO Land Inc. launched the Broadfield property development in suburban south Manila and pulled in PHP2.8 billion in commercial lot sales on its first day.

Ayala Land said it hasn't estimated sales for the entire project yet.

The company is a unit of Ayala, one of the oldest and largest conglomerates in the Philippines. Ayala Corp.'s net profit in the 2019 first half more than doubled from a year earlier to about $737 million on higher contributions from its property, banking and telecommunications businesses.

Ayala Land's stock price was down 0.4% in afternoon trade Friday. Shares have risen 21% year to date.

Write to Ben Otto at ben.otto@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AYALA CORPORATION End-of-day quote.
AYALA LAND, INC. End-of-day quote.
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Financials (PHP)
Sales 2019 307 B
EBIT 2019 66 932 M
Net income 2019 46 081 M
Debt 2019 349 B
Yield 2019 1,00%
P/E ratio 2019 10,2x
P/E ratio 2020 12,3x
EV / Sales2019 2,65x
EV / Sales2020 2,43x
Capitalization 464 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Average target price 1 009,78  PHP
Last Close Price 740,00  PHP
Spread / Highest target 48,6%
Spread / Average Target 36,5%
Spread / Lowest Target 23,0%
EPS Revisions
Managers
NameTitle
Jaime Augusto Zobel de Ayala Chairman & Chief Executive Officer
Fernando Miranda Zobel de Ayala Vice Chairman, President & Chief Operating Officer
Jose Teodoro K. Limcaoco CFO, MD, Chief Risk Officer, & Group Head-Finance
Maria Angelica B. Rapadas Chief Information Officer
Delfin Lapus Lazaro Non-Executive Director