SM Investments Corp. (SMIC), the holding firm of the Sy family, on Monday said its income rose 65 percent last year to P38.5 billion from the previous P23.4 billion, mainly as a result of its strong performance in the fourth quarter of 2021. Consolidated revenues grew 9 percent to P428.1…
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BusinessWorld
August 5, 2021 | 12:08 am
SM Investments Corp. (SMIC) on Wednesday said its first-half net income surged to P20.1 billion, nearly three times its P7.1-billion profit booked in the same period last year as revenues grew by four percent.
The company finished with a topline of P193.5 billion in the first six months from P185.5 billion year on year. It did not provide figures specific to the second quarter.
âOur businesses continued to perform resiliently, recovering well as conditions allowed,â SMIC President and Chief Executive Officer Frederic C. DyBuncio said in a statement.
âOur banking and residential businesses performed well as we also continued to invest in long term expansion with new stores, bank branches, residential project launches, and investments in malls,â he added.