AYALA Land, Inc.’s logistics unit posted a net income of P339 million in the first six months of the year driven by an increase in revenues of its various business segments.

AyalaLand Logistics Holdings Corp. (ALLHC) said in a regulatory filing on Wednesday that its consolidated revenues reached P1.5 billion in the first half.

The company did not disclose comparative figures for last year, but it previously reported a net income of P339.03 million and consolidated revenues of P1.74 billion in the first half of 2022.

“In the first half of the year, the company’s performance remained sound. We remain positive that our diversified real estate portfolio, alongside our up-and-coming projects in the pipeline will propel the business forward,” said ALLHC Chief Operating Officer Patrick C. Avila.

The logistics company’s sales from industrial lots were its largest revenue contributor after increasing 2.7% to P675 million in the first semester from P657 million in the same period last year.

ALLHC’s revenues from cold storage rose 49.1% from P57 million to P85 million, which it said was due to the addition of ALogis Artico’s third facility in its portfolio.

Commercial leasing grew 3.3% to P443 million, while warehouse leasing declined 9% to P331 million.

Mr. Avila said ALLHC will introduce a modern food terminal which will be supported by its cold storage and dry warehouse facilities.

“Farmers from Northern Luzon and Central Luzon can bring their produce, and these can be stored and preserved with the proper facilities. We hope this [will] help all farmers and our supply chain,” he said.

The company also entered the data center industry with its A-FLOW Data Center project, which is currently under development. Its initial rollout will allow a 6-megawatt capacity to be ready for service by the end of 2024.

On the stock exchange on Wednesday, shares in ALLHC closed seven centavos or 2.95% lower to P2.30 apiece.  Justine Irish D. Tabile