Megaworld income up 16% on growth of core businesses
MANILA, Philippines — Growth across all its businesses, particularly townships outside Metro Manila, buoyed the first-quarter bottom line of Megaworld Corp. by 16 percent to P5.83 billion.
The developer led by billionaire Andrew Tan disclosed to the stock exchange on Wednesday that revenues had likewise expanded by 11 percent to P20.93 billion.
Megaworld president Lourdes Gutierrez-Alfonso said all businesses—from residential to malls and hotels—thrived, noting there was still an opportunity for expansion especially for townships in the provinces. —MEG J. ADONIS
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