Ayala Corporation, the holding company of the Ayala conglomerate, reported on Thursday that its core net profit in 2022 was P27.7 billion, up 18% from 2021. The net profit of BPI, a major commercial bank under the umbrella, increased 66% to 39.6 billion pesos, while the net profit of Ayala Land, a subsidiary of real estate development division, increased 52% to 18.6 billion pesos. increased by 46% year-on-year. However, net profit fell 50% to 4.6 billion pesos from a year earlier, after AC Energy, an energy subsidiary, posted a loss on the sale of two coal-fired power plants. Ayala Corporation said that its total capital expenditure in 2022 was 280.3 billion pesos, an increase of 24% compared to 2021, but plans to slightly shrink to 264 billion pesos in fiscal 2023. (10 days, star)
