Sunday, May 20, 2018
  • share this

SM nets P7.4 B in 1st Q

Henry Sy Sr. file photo

MANILA, Philippines—Tycoon Henry Sy’s SM Investments Corp. grew its first quarter net profit by 22 percent year-on-year to P7.4 billion on the back of the group’s banking business alongside the growth in mall and property units.

Revenues increased to P56.8 billion from P49.6 billion in the first quarter of 2012 while cash flow, as measured by earnings before interest, taxes, depreciation and amortization, rose by 36 percent year-on-year to P16.9 billion for an EBITDA margin of 29.7 percent. Return on equity amounted to 13.6 percent.

SM President Harley Sy said in a press statement: “We are encouraged by our first-quarter results. With the continuing rise in remittances from overseas Filipinos, the expansion of the country’s BPO (business process outsourcing) sector, and the recent credit upgrade of the Philippines to investment grade, we are confident of achieving even better results in the second quarter and beyond.”


Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Banking, Business, Harley Sy, Henry Sy, net profit, property, SM Investments Corp.
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2018 | All Rights Reserved