MANILA -Family-led conglomerates Ayala Corp., SM Investments Corp. and Cosco Capital saw strong consumer demand lift earnings in the first quarter while DMCI Holdings booked a sharp decline after riding the commodities boom last year. The Zobel family's Ayala group said net income from January to March this year climbed 31 percent to P10.2 billion as revenues grew 19.7 percent to nearly P80 billion. Ayala's performance was driven by Bank of the Philippine Islands, Ayala Land Inc., ACEN and Globe Telecom.

https://business.inquirer.net/400274/ph-conglomerates-posted-double-digit-profit-growth-in-first-quarter

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