Bank, property, energy units fuel 28% Ayala earnings growth

MANILA, Philippines — Zobel family-led conglomerate Ayala Corp. booked a 28-percent surge in first-quarter earnings to P13 billion as its core businesses registered growth. Excluding one-off items, core net income grew by 26 percent to P11.8 billion, the group’s stock exchange filing on Tuesday showed. “We are seeing growth momentum across most of our businesses,”
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