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(From BusinessWorld (Philippines))
Byline: Bernardette S. Sto. Domingo
Ayala Corp., the country's largest conglomerate, posted an unaudited consolidated net income of P12.2 billion last year, up 49% from P8.2 billion in 2005 and buoyed by robust growth of its operating units, lower interest expense, and gains from asset sales.
Ayala chairman and chief executive officer Jaime Augusto Zobel de Ayala said the company is taking advantage of opportunities presented by key sectors of the economy.
"We are pleased with the record performance this year. The fundamentals are in place for sustained economic recovery and growth. The Ayala group is …