SM nets P7.4 B in 1st Q

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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.”

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  • parefrank

    That is about 30000 million over a year. And Sy is the main owner of SM. But have you read how much he pays taxes? Much less than Kris Aquino?
    This is the “reverse Philippine CCT”, the Cash Transfer from the poor to the big and rich.

  • tagaDumantay

    Namo mag share ka naman sa manggagawa mong puro contractual.

  • henri_see

    4.7 bil profit
    pero mas malaki tax ni kris.

  • http://www.ofwsinhongkong.wordpress.com/ pinoysahongkong2012

    If SM Investments Corp. is making so much profit, it should be more generous then in sharing with its stockholders part of its massive earnings.

    It shouldn’t just use its earnings for continued expansion, but should also thank its shareholders by being more generous in terms of giving out dividends.

    • http://www.businessinsider.com/the-art-of-war-sun-tzu-2011-5?op=1 Sun Tzu

      Asa ka pa, si Henry Sy yan noh!

      • http://www.ofwsinhongkong.wordpress.com/ pinoysahongkong2012

        If he’s stingy, shareholder activists should subject Sy to public ridicule by writing in different public fora and criticizing his stinginess.

    • http://www.facebook.com/billy.reyes.984 Billy Reyes

      stockholders get their share accordingly to the appropriate share earning of the company. It is very accurate & standard, hindi pwedi lang yan ipamigay o ibalato dahil kumikita ang kompanya. Common man what do you think of the corporation law pakikisama culture.
      And if you are a shareholder & you don’t like the way company run you can always withdraw your shares & invest it in other company.

      • http://www.ofwsinhongkong.wordpress.com/ pinoysahongkong2012

        Of course, not all earnings are given as dividend payouts. But certain business owners are more enlightened and less greedy than the others who think more of themselves than their shareholders.
        And sure, shareholders can liquidate their holdings in companies with stingy and selfish managements.
        But where will this defeatist stance leave the investing community in general? Still very much at the beck and call of controlling shareholders.
        I still say that small shareholders should band together and shame publicly the controlling shareholders of companies which merely give peanuts to their small shareholders instead of giving decent dividend payouts.
        If more and more small shareholders can do this, we can well expect the small investing community to benefit more from their stocks investments.

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