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Property developer SM Prime Holdings Inc. posted a net income of P30.1 billion in the first nine months of 2023, up 37 percent from P22 billion in the same period last year, boosted by higher revenues from its mall and residential businesses.
Nine-month consolidated operating income also increased 29 percent to P44.5 billion from P34.6 billion a year ago. “Our strategic operations over the past months provided us remarkable results this quarter, which we expect to lead us to a stronger full-year performance. I would like to thank our customers and partners for their continued support that aim to deliver convenience and comfort to everyone,” SMPH president Jeffrey Lim said.
Mall rental income grew 29 percent to P44.8 billion from last year’s P34.7 billion, while cinemas, event ticket sales and other revenues increased to P7.7 billion from P3.5 billion.
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