BY ANGPING & ASSOCIATES SECURITIES
Megaworld Corporation (MEG) grew its net income by 139.0% to PHP 21.6 billion boosted by a one-time gain and higher revenues from its real estate and rental businesses.
Excluding non-recurring gains, core income rose 14% to PHP 9.4 billion last year.
This was supported by a 16.0% increase in real estate sales to PHP 24.6 billion, and a 17.0% growth in rental income to PHP 7.0 billion.
Megaworld launched five townships last year, and another five this year, which will bring the total number of the developments to 20 by the end of 2015.