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Friday, November 10, 2000
 
AC ( 11/10/2000 : AFX )
Ayala Corporation said consolidated net profit in the nine months to September was 2.85 B pesos, down from 4.36 B a year earlier on the continued fall in banking and property subsidiaries' incomes. Unit Ayala Land Inc's nine-month net profit dropped to 1.55 B pesos from 1.85 B a year earlier, as land sales and condominium projects remained weak, Ayala Corp said in a statement. Bank of the Philippine Islands reported a net profit of 2.67 B pesos, down 37 pct from year-earlier levels as sluggish lending activity, lower margins and increased provisioning hurt its bottomline, the statement said. Globe Telecom offset the losses in the main revenue drivers, posting a nine-month profit of 1.05 B pesos, it said. The 62 pct increase in Globe's profit compared to the year-earlier 651 M was attributed to a robust increase in the company's subscriber base. PureFoods Corp's recurring net profit grew 10 pct to 569 M pesos in the same nine-month period, the statement said.
- posted by StockMarket @ 9:41 PM


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