AYALA Corp.’s net income in 2018 grew five percent to P31.8 billion from the previous year, boosted by strong earnings contribution from its real estate, telecommunications and power businesses.

Ayala’s performance during the year was a result of strong equity earnings contribution from its business units, which reached P39.4 billion, 10 percent higher year-on-year.

This was led by the strong double-digit growth in equity earnings of Ayala Land, Globe Telecom, and AC Energy.

Ayala president and chief operating officer Fernando Zobel de Ayala said they spent close to P200 billion in capital expenditure at the parent level alone to support the investment programs of our various business units, including their new growth platforms in power, industrial technologies, infrastructure, education and healthcare over the past 10 years. (PR)