SM Investments nets P70.2B in 9 months
MANILA, Philippines — SM Investments Corp. maintained its growth momentum despite a sluggish economy, with its earnings rising 9 percent to P70.2 billion.
The group’s consolidated revenues also rose 5 percent to P506.8 billion from P482.3 billion.
READ: Consumer spending lifts SMIC earnings
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Its banking business provided the largest share of income, accounting for 48 percent. Property, retail, and portfolio investments followed.
“Ongoing resilient consumer demand supported retail and malls, while portfolio investments delivered stronger earnings,” Frederic DyBuncio, president and CEO of SM Investments, said in a statement on Wednesday. /pai
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