Ayala Land Inc., the Philippines’ largest property developer by market capitalisation, said Wednesday the company had a “very good” quarter in the three months ended March 31.
“The indication is that the numbers all continue to look good. Demand across all our product lines is excellent. It would translate to positive results for the first quarter. The first quarter was a very good quarter. It is up on quarter and on year,” Chief Executive Antonino Aquino told reporters on the sidelines of the company’s annual general meeting.
Ayala Land reported a net profit of PHP1.62 billion in the first quarter of 2011, up 36 percent from the previous year. -By Cris Larano