- Obama says Boosting US Jobs is Top Priority
- More Consumers Giving 'Black Friday' the Cold Shoulder
- Prepare For Large Decline In Stocks, Next Year?
- Hewlett-Packard Earnings Rise, Match Guidance
- HP Comes in As Expected; Is It Time to Buy?
- Cramer: What Monday’s Housing Number Really Means
- Why the Dollar Will Likely Stay Weak for Some Time
- Bear, Lehman Execs Weren't Wiped Out by Crisis: Study
- How Real Estate Investors Skew Housing's Reality
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Why Amazon Rules Retail
- Wave of Debt Payments Facing US Government
- HP Comes in As Expected; Is It Time to Buy?
- JAL Slides to Record Low on Bankruptcy Jitters
- Prepare For Large Decline In Stocks, Next Year?
- Paul: Audit the Fed
- Hewlett-Packard Profit Rises, Matches Guidance
- Holiday Travel Outlook
- The Social Media Gaming Threat
Text Size 
MANILA, Nov 10 (Reuters) - Top Philippine property firm Ayala Land Inc expects third-quarter net profit to outpace the first two quarters on improved sales, but earnings would still be down from a year earlier, a senior official said on Tuesday. Net income for the third quarter will "definitely be better than the first two quarters," Ayala Land Chief Financial Officer Jaime Ysmael told reporters. "Basically, it's an upward trajectory," he said, adding key growth drivers are the company's residential, leasing and office businesses. But Ysmael said earnings would still be down on a year-on-year basis. "We cannot reverse it right away," he said. Ayala Land, a unit of conglomerate Ayala Corp, reported a net profit of 910 million pesos ($19.4 million) in the first quarter, down 50 percent from a year earlier. Second-quarter net income stood at 1.02 billion pesos, down 14 percent from a year ago. The company is due to release its third-quarter results on Thursday. Shares of Ayala Land surged 4.76 percent to 11.00 pesos at 0242 GMT. (Reporting by Manolo Serapio Jr.) ((manolo.serapio@thomsonreuters.com; +632 841 8936; Reuters Messaging: manolo.serapio.reuters.com@reuters.net)) Keywords: AYALALAND/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
- CNBC’s Phil LeBeau took a test drive of GM’s flagship electric car. Here’s what he thought of the Volt.
- The energy company Power Efficiency is building tools that regulate the power electric motors use.
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
Data is a real-time snapshot *Data is delayed at least 15 minutes