Megaworld net income rises in Q3 with residential resurgence

ABS-CBN News

Posted at Nov 12 2018 12:03 PM

MANILA – Megaworld said Monday a resurgent residential market, coupled with sustained growth in its office and retail businesses, drove growth in its net income in the quarter ending September.

Net income attributable to shareholders rose 14.2 percent to P4.04 billion in the third quarter from P3.54 billion during the same period in 2017, Megaworld told the stock exchange.

This brought January to September net income to P11.66 billion, up 12.8 percent P10.34 billion during the comparable period last year.

"We have been tracking a promising trajectory during the first nine months of 2018, and we are optimistic to finish the year strong," said Megaworld senior vice president and treasurer Francis Canuto.

Third quarter revenues rose 16.2 percent to P14.16 billion from P12.18 billion during the same period in 2017.