SM Prime's net income up 16 percent in Q2


Posted at Jul 15 2019 02:58 PM | Updated as of Jul 15 2019 03:58 PM

MANILA – SM Prime Holdings Inc on Monday said its second quarter net income grew 16 percent to P10.5 billion from P9.02 billion in the same period the previous year. 

Its overall net income increased 16 percent in the first half of 2019 to P19.3 billion from P16.62 in the first half of 2018, SM group’s property arm said in a disclosure to the stock exchange. 

“The country’s stable economy has helped SM Prime maintain its growth in all core businesses for the first half of 2019. We are optimistic to sustain this growth moving forward as we launch new projects with the goal of providing more integrated property developments across the Philippines,” SM Prime president Jeffrey Lim said. 

SM Prime has 72 malls in the country and 7 in China. SM Prime also has office, residential, commercial properties, and hotels and convention centers.