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SM Investments Boosts 2014 Profit

05 Mar

BY ANGPING & ASSOCIATES SECURITIES

SM Investment Corporation (SM) reported a net income of PHP 28.4 billion, up 3.7 % y-­o-­y.

Consolidated revenues climbed 9 .0 % year-­on-­year to PHP 275.7 billion from PHP 253.3 billion in 2013 on the back of a good retail sales environment and rental revenues.

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SM’s banking business, composed of BDO Unibank, Inc. and China Banking Corp., accounted for 41 .0 % of the conglomerate’s income.

SM Prime Holdings, Inc., which contributed 38 .0 % to the parent company’s bottom line, increased its consolidated net profit by 13 .0 % to PHP 18.4 billion, supported by an 11 .0 % expansion in revenue to PHP 66.2 billion.

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Posted by on March 5, 2015 in Corporate News, SM, Stock Market

 

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