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Megaworld’s net income up 13% in Jan.-Sept. year-on-year

by admin on November 12, 2018

Property developer Megaworld Corp. on Monday reported a double-digit climb in its bottom line in January to September, supported by leasing operations.

In a regulatory filing submitted by Megaworld VP Dominic Isberto, the company reported a 12.8-percent increase in net income to P11.66 billion in the first nine months of the year from P10.34 billion a year earlier.

Net income attributable to the parent company likewise rose by 13.1 percent to P11.29 billion from P9.98 billion.

“The robust outing of the company was buoyed particularly by strong rental income from office and commercial space leasing operations,” the filing read.

“Additionally, sustained growth in residential revenues provided uplift to earnings,” it added.

Consolidated revenues for the nine-month period grew by 12.6 percent to P41.76 billion from P37.10 billion.

Rental income went up 18.6 percent at P10.46 billion. —Jon Viktor Cabuenas/VDS, GMA News