Posted on May 13, 2015 10:47:00 PM [
BusinessWorld Online ]
MEGAWORLD Corp., owned by Philippine
billionaire Andrew L. Tan, saw its net profit jump 12.5% in the first three
months of 2015 on the strength of higher residential sales and record leasing
income.
Megaworld told the stock exchange it
booked a net income of P2.35 billion in the first quarter, from P2.09 billion
in the same period last year.
“We are on-track in achieving
consistent quarterly double-digit growth and we remain optimistic to hit and
even surpass our growth target for the year,” Megaworld Chief Finance Officer
Francisco C. Canuto said in a statement.
Consolidated revenues of Megaworld
Group -- which includes Global-Estate Resorts, Inc.; Empire East Land Holdings,
Inc.; and Suntrust Properties, Inc. -- increased by 12.08% year on year to
P10.47 billion from P9.34 billion.
Rental income from office developments
and malls hit a record P1.99 billion in the first quarter, higher by 15.98%
from P1.71 billion.
Megaworld had said rental income should
reach P10 billion by 2016. -- K. A. M. Montealegre
________________________________________________
