starbet777 SM Prime 9-month earnings reach P33.9B

Updated:2024-11-13 04:26    Views:125

MANILA, Philippines — Real estate giant SM Prime Holdings Inc., led by the billionaire Sy family, booked a 12-percent gain in nine-month earnings to P33.9 billion, buoyed by growth in the mall business.

In a stock exchange filing on Monday, SM Prime said revenues also expanded by 8 percent to P99.8 billion in the January to September period.

The developer’s earnings already account for 84.75 percent of its full-year net income of P40 billion last year. In the third quarter alone, SM Prime’s profits reached P11.8 billion.

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“For the remainder of the year, we anticipate continued growth due to the recent opening of SM City J Mall and the upcoming holiday season,” SM Prime President Jeffrey Lim said.

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The mall business’ revenues inched up by 8 percent to P56.5 billion, accounting for 57 percent of the company’s total.

Mall rental income likewise climbed by 8 percent to P48.5 billion.

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