SM nets P23-B in first half

August 09, 2019

SM Investments Corp. (SMIC) reported net income of P23 billion in January to June of 2019 from P18.1 billion in the same period the previous year.

Consolidated revenues rose 14 percent to P233.7 billion in the first half from P204.3 billion in the same period last year.

“We delivered a strong first half, underpinned by remarkable bank earnings and robust residential take-up. Our retail business continues to do well and we are pleased with the rapid expansion of our minimart footprint through Alfamart,” SMIC president and chief executive officer Frederic DyBuncio said.