GERI earnings rise 32% in 1H

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

In a disclosure to the Philippine Stock Exchange, the firm said attributable net income during the first two quarters of the year grew by 24 percent to P748 million from last years’ P604 million.

Megaworld subsidiary Global-Estate Resorts, Inc. , the country’s leading developer of integrated tourism-estates, registered a 32 percent growth in net income to P848 million during the first half of 2022 from P643 million in the same period last year.

The improved performance was backed by strong real estate sales during the first six months of the year or 29 percent increase to P2.3 billion as reservation sales reached P8.4 billion. Hotel revenues posted the biggest growth from year-ago levels, posting a 253 percent increase to P158 million as compared to the same period last year, largely driven by the return to leisure and increasing tourist arrivals.

She added that, “Likewise, the continued improvement in mobility has allowed for higher completion of our residential projects, particularly during the second quarter.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jollibee net earnings up nearly threefold to P2.8B - BusinessWorld OnlineJOLLIBEE Foods Corp. (JFC) recorded a surge in its attributable net income to P2.79 billion in the second quarter, almost triple last year’s P976.71 million, after booking “record-high” system-wide sales, it said on Thursday. READ:
Source: bworldph - 🏆 9. / 68 Read more »