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Sy-led integrated property developer SM Prime Holdings Inc. on Monday reported a 16% increase in its consolidated net income for the second quarter of the year, as its top line climbed by 9% during the period.In a regulatory filing, SM Prime said its second-quarter net income rose to P11.6 billion from P10.0 billion the same quarter of 2023, as consolidated revenues increased to P34.0 billion, with the mall business accounting for 58%.Mall rental revenues grew by 10% to P16.
“SM Prime remains steadfast in bringing the SM brand closer to more Filipinos through our integrated property developments that promote climate resilience, environmental sustainability, and prosperity to all,” he added.SM Prime is set to spend P100 billion for its capital spending program this year, as the firm is set to open four malls of over 400,000 square meters of gross floor area.
SM Prime Business And Industry
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