Megaworld first-half earnings up 11%

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Megaworld Nouvelles

Net Income,Companies

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Listed property developer Megaworld Corp. on Wednesday reported an 11% growth in its net income for the first half of the year, as consolidated revenues expanded by 22% on the back of the performance of its business segments.Megaworld said its net income rose to P9.81 billion, while net income attributable to shareholders of the parent company grew 9% to P8.55 billion. Consolidated revenues expanded 22% to P39.10 billion.The real estate business saw a 30% expansion on sales to P24.

The company on Monday said it is set to spend P12 billion for an “active wellness township” in Batangas, in partnership with the owner and operator of The Farm at San Benito to mark its 33rd township development in the country.Megaworld’s hotels and resorts reported a 38% increase in revenues to P2.36 billion, which it attributed to the resurgence of meetings, incentives, conventions, exhibitions activities, and local tourism.Leasing revenues expanded by 6% to P9.

 

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