Tycoon Andrew Tan-led Megaworld Corp. grew attributable net profit by 16 percent year-on-year to P3.8 billion, driven by a double-digit expansion in earnings from residential development, commercial property rental and hotel operations. Excluding a non-recurring gain of about P189 million in the first three months, Megaworld posted a 13 percent year-on-year growth in net income. Consolidated revenues rose by 15 percent year-on-year to P14.9 billion during the first quarter, around 64 percent of which came from the residential business while 26 percent was contributed by its rental portfolio and 4 percent by its hotel businesses. The remainder came from non-core revenues. Includi...
Keep on reading: Megaworld nets P3.8B
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