Business.(Business File photo)

Megawide posts 26% growth

MEGAWIDE Construction Corp. (Megawide) reported consolidated revenues of P18.6 billion in fiscal year 2023, 26 percent higher than the previous year’s P14.8 billion.

The performance was driven largely by the construction business, which delivered P18.1 billion in revenue and comprised 97 percent of the total.

This was complemented by improved landport operations and initial contribution from the real estate segment, which recorded P348 million and P149 million, respectively.

Consolidated earnings before interest, taxes, depreciation and amortization for continuing operations grew more than 10 times to P3.60 billion versus the previous year’s P353 million, coming significantly from construction operations.

The strong performance delivered a consolidated net income from continuing operations of P269 million – a complete turnaround from the P1.87 billion consolidated net loss incurred the previous year. / PR

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