In a disclosure to the Philippine Stock Exchange, the firm said higher profits were seen as the company continues to pull away from the pre-pandemic performance across most of its core businesses.Meanwhile, attributable net income rose by 34 percent to P7.9billion in the first semester of 2023 from the P5.9 billion posted in the comparative period last year.
“We also worked doubly hard in coming up with new, innovative, and sustainable product offerings in order to further strengthen our leadership as a pioneering real estate company,” Tan added. During the first half of the year, the company saw a strong uptick in the demand for residential projects in two Taguig townships, particularly in McKinley West and Uptown Bonifacio.
Leasing revenues, on the other hand, grew by 17 percent to P8.8 billion on the back of the company’s stable office segment and the continued recovery of mall rental income. Megaworld Lifestyle Malls also continued its recovery momentum with a 71 percent revenue growth to P2.5 billion during the first half of the year, driven by increased spending and higher rents as the company started to collect full rents beginning this year.
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