SM Prime Holdings net income hits P22-B in first half, up 13 pct | ABS-CBN
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SM Prime Holdings net income hits P22-B in first half, up 13 pct
SM Prime Holdings net income hits P22-B in first half, up 13 pct
ABS-CBN News
Published Aug 05, 2024 05:24 PM PHT
MANILA – SM Prime Holdings reported a 16 percent increase in consolidated net income for the second quarter of 2024, reaching P11.6 billion compared to P10 billion in the same period last year.
MANILA – SM Prime Holdings reported a 16 percent increase in consolidated net income for the second quarter of 2024, reaching P11.6 billion compared to P10 billion in the same period last year.
This growth was driven by a 9 percent rise in consolidated revenues, which totaled P34 billion for the second quarter, up from P31.2 billion a year earlier.
This growth was driven by a 9 percent rise in consolidated revenues, which totaled P34 billion for the second quarter, up from P31.2 billion a year earlier.
For the first half of 2024, SM Prime's consolidated net income was P22.1 billion, marking a 13 percent increase from P19.4 billion. Revenues for this period grew 8 percent to P64.7 billion from P59.9 billion.
For the first half of 2024, SM Prime's consolidated net income was P22.1 billion, marking a 13 percent increase from P19.4 billion. Revenues for this period grew 8 percent to P64.7 billion from P59.9 billion.
SM Prime’s mall segment, which contributed 58 percent of total revenues, saw a 10 percent increase in rental revenues to P16.3 billion for the second quarter.
SM Prime’s mall segment, which contributed 58 percent of total revenues, saw a 10 percent increase in rental revenues to P16.3 billion for the second quarter.
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The segment’s first-half revenues reached P32.1 billion, up 9 percent from the previous year.
The segment’s first-half revenues reached P32.1 billion, up 9 percent from the previous year.
The company added that its primary residential business unit accounted for 29 percent of the consolidated revenues and registered P10.4 billion in revenues in the second quarter of 2024, 23 percent higher than P8.5 billion in the previous quarter.
The company added that its primary residential business unit accounted for 29 percent of the consolidated revenues and registered P10.4 billion in revenues in the second quarter of 2024, 23 percent higher than P8.5 billion in the previous quarter.
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