Property giant SM Prime Holdings (SMPH) booked P15.6 billion in net profit at end-September, up 9 percent year-on-year, as the company kept a tighter lid on expenses, while other income made up for the decline in shopping mall and residential development revenues. For the third quarter alone, , flat from the P3.94-billion bottom line seen…
Philippine food and beverage makers Century Pacific Food Inc. (CNPF) and RFM Corp. landed on Forbes Asia magazine’s “2021 Best Under A Billion” list of 200 top-performing publicly listed small and mid-sized companies in the Asia-Pacific region. The roster highlights companies with less than $1 billion in revenues and consistent in terms of top- and…
Property developer Sta Lucia Land Inc. (SLI) nearly doubled its net profit in the second quarter from the level a year-ago at the height of lockdown restrictions triggered by the coronavirus pandemic. SLI’s April to June net profit hit , up by 98.7 percent from P259.18 million last year, as earnings from residential development and…
Leading mass housing developer 8990 Holdings has secured enough land inventory to unlock P201 billion in potential real estate sales across the country in the next seven to 10 years. By next year, 8990 expects revenues and earnings to return to its prepandemic trajectory as the economy rebounds from the havoc created by the prolonged…
Gokongwei-led Robinsons Land Corp. (RLC) saw a 394-percent year-on-year increase in second quarter net profit to P2.56 billion as earnings from property development, rental portfolio and hotel operations bounced off a low base seen last year at the height of pandemic lockdowns. Amid the reimposition of tight restrictions through early April this year, RLC’s second…
Grocery chain operator Puregold Price Club Inc. sustained the earnings growth momentum seen since last year amid a prolonged coronavirus pandemic. Puregold, led by the group of retail tycoon Lucio Co, booked around , up by 20.8 percent year-on-year. Compared to the first quarter’s bottom line of P2.02 billion, however, earnings dipped by 2.5 percent.…
Tycoon Andrew Tan-led property developer Megaworld Corp. delivered P2.6 billion in second quarter net profit, rising at a double-digit pace from the levels a year ago and a quarter ago, driven mostly by the office leasing business. Megaworld’s second quarter net profit rose by 39 percent versus a low base of P1.9 billion last year…
Petron Corp. made a turnaround in the first half of the year, bouncing back with a P3.87-billion consolidated net income after hitting a P14.24-billion net loss in the same period last year, as oil prices picked up and market optimism returned amid the rollout of vaccines against COVID-19. “Though we continue to face some challenges,…
Holcim Philippines, the country’s leading cement maker, chalked up P721.4 million in second quarter net income, reversing the P88.1 million net loss in the same period last year when it had to shut down its manufacturing facilities in Luzon to comply with pandemic-related lockdown restrictions. This brought Holcim’s six-month net profit to , 294 percent…
Upscale property developer Rockwell Land has seen earnings in the first six months exceed full 2020 level, riding on a resilient high-end residential property market during this prolonged COVID-19 pandemic. Building on this momentum, Rockwell is set to bring to the property market about worth of fresh property inventory this year, including two flagship projects…