Manila's Ayala Corp 2004 profit rises 130 pct


MANILA, Feb 17 (Reuters) - Ayala Corp. , the largest conglomerate in the Philippines, said on Thursday its net income rose 130 percent in 2004, with strong growth in its property business making up for weakness at its phone unit. Ayala's net income of 7.1 billion pesos ($129 million) was higher than market estimates. Reuters Estimates had a consensus 2004 net profit estimate of 5.53 billion pesos, raised from a forecast in November of 4.35 billion pesos. For 2005, the net profit estimate ...

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