SM PRIME Holdings Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, reported an 18 percent growth in its consolidated net income to P38.1 billion in 2019 from P32.2 billion in 2018.
Consolidated revenues increased by 14 percent to P118.3 billion from P104.1 billion, in 2019 and 2018 respectively, while consolidated operating income went up by 17 percent to P56.7 billion from P48.3 billion of the same period in 2018.
“SM Prime’s continuous growth was brought about by our strategic expansion in the country’s developing cities. We look forward to 2020 as we strengthen our presence in more key areas in the Philippines through sustainable integrated property developments,” SM Prime president Jeffrey Lim said. (PR)