Ayala Corporation beats target net income ahead of plan

MANILA, Philippines – Ayala Corporation, the country's oldest conglomerate, saw its net income grow by 20% in 2015, breaching its target a year ahead.

The increase was anchored on strong performance in its real estate, telecommunications, and power generation businesses.

Ayala told the Philippine Stock Exchange (PSE) on Thursday, March 10, that its net income expanded 20% to P22.3 billion ($478.26 million) in 2015, 20% higher than its 2014 performance.