MANILA, Philippines – The Zobel family's flagship holding firm Ayala Corp. expects business to recover to prepandemic levels this year after profits slipped 1.4 percent to P27.4 billion in 2022. The country's oldest conglomerate, whose interests span real estate, telecommunications, banking, healthcare and infrastructure, recorded several one-off items for the year. These included asset sales by Bank of the Philippine Islands and Globe Telecom and a write off ACEN Corp.'s sale of coal assets and impairment charges from its investment in Myanmar-focused Yoma Group.

https://business.inquirer.net/390388/ayala-eyes-return-to-prepandemic-profit-levels-in-2023

#inquirer