Airport business lifts Megawide's net income by 10 percent in first half

ABS-CBN News

Posted at Aug 15 2018 02:05 PM

MANILA - Megawide Construction Corp on Wednesday reported a net income of P1.26 billion for the first half of 2018 driven by the growth of its airport business.

Its net profit grew 10 percent to P1.26 billion from P1.15 billion in the same period last year, Megawide told the stock exchange. 

Megawide's airport business, which includes the Mactan-Cebu International Airport, contributed 65 percent to the consolidated net earnings, it said.

The construction business segment accounted for the remaining 35 percent. 

The MCIA serves 34 domestic and 24 international destinations. Twelve out of 15 new flights opened in the first half were direct flights to China, Megawide said. 

Megawide said its consolidated revenues for the first half of 2018 reached P8.96 billion. 

The company is part of a consortium that is proposing to upgrade the Ninoy Aquino International Airport. It has also proposed to build a second runway for the Mactan airport.