SM Nets PHP23 Billion In First Half, Up 27%

SM Investments Corporation (SMIC) reported net income of PHP23.0 billion in January to June of 2019 from PHP18.1 billion in the same period the previous year.

Consolidated revenues rose 14% to PHP233.7 billion in the first half from PHP204.3 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 C. DyBuncio said.

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