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Megaworld net earnings reach P8.3 billion in first half, up 16%

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Megaworld Corporation reported a 16 percent growth in attributable net income to P8.3 billion in the first half of 2019 from P7.2 billion in the same period last year.

In a disclosure, the firm said earnings included a non-recurring gain of about P189 million in the first six months of 2019.

Broken down, Megaworld’s residential business, rental, and hotel operations, accounted for 63 percent, 26 percent, and 4 percent of total revenues, respectively. The balance of 7 percent came from its non-core revenues. Vacancies in both office and commercial segments are on an all-time low, and we don’t see this changing in the near future due to the robust sign-ups we are seeing from big companies and business owners.”

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