SM Investments Corp. (SMIC) saw its consolidated net earnings rise a better-than-anticipated 16.3 percent to P24.7 billion, the company said in a financial report to the Philippine Stock Exchange.
Revenues rose 12 percent to P223.9 billion from P199.9 billion in 2011 while EBITDA increased 24 percent to P54.9 billion.
Total assets were up 24.8 percent to P560.2 billion.
The company's banking units contributed 34.4 percent to the total, the largest share. Retail operations followed with 28.1 percent, malls with 22.9 percent and property development with 14.6 percent.
Banco De Oro's profits of P14.3 billion for the year was a record for the bank and exceeded its target of P12.5 billion.
Retail operations' net income grew 12.5 percent to P6.6 billion as sales increased 7.6 percent to P159.5 billion with the opening of 34 new stores nationwide last year, bringing the number of stores in the company's network to 202.
SM Prime Holdings achieved a net income of P10.5 billion, a 16-percent improvement year-on-year as revenues grew 14 percent to P30.7 billion. It opened six new malls last year, including one in China.
Residential construction firm SM Development Corp. posted P4.9 billion in net earnings, 17.5 percent up year-on-year as revenues surged by 33.3 percent to P21.6 billion. — BM, GMA News
0 comments:
Post a Comment