Logistics Holdings Corp. recorded a 10% increase in earnings last year to P702 million, the listed holding company announced on Tuesday, even though sales declined by 10%.
According to the exchange, the company’s profitability is greatly influenced by the selling of industrial lots, profitable warehouse and office lease activities, and the sale of non-core properties.
AyalaLand Logistics, a division of Ayala Land, Inc., specializes in offering real estate logistics and facilities services.
Revenues dropped by 30% to P3.72 billion from P5.35 billion the previous year. Industrial lots revenues decreased by 29% to P1.28 billion from P1.81 billion previously.
Industrial leasing revenues have fell by 39% to P520 million in 2020 from P854 million the previous year.
According to my estimates, last year the total commercial leasing area rose by 23% to 90,000 square meters.
The organization claimed that it was able to increase its gross leasable region of warehouses by 18%, allowing for 207,000 square meters of new warehouse space to be made available for sale.
This led to a rise in overall sales from warehouse leasing of 23% to P353 million in 2019, relative to the previous year’s total of P287 million.
This [coronavirus disease] epidemic posed both possibilities and threats. Maria Rowena M. Tomeldan, AyalaLand Logistics president and CEO, claims that our goods are well-positioned to satisfy the desires of our locators, lessees, and retail merchants, both current and potential.
She continued by adding, “We plan to be a co-catalyst for change, delivering real estate options and also spurring economic growth in the regions where we operate.”
The organization has told us that it will be exploring new ventures in 2021.
The building of the second warehouse facility began in Cavite Technopark in Naic, Cavite in January.