Megaworld logs P3.3B net income in Q3

·1 min read

MEGAWOLD grew its net income by 46 percent to P3.3 billion in the third quarter this year from P2.2 billion during the same period last year as the company begins its recovery phase with eased restrictions and gradual re-opening of the country’s economy.

Net income attributable to parent company’s shareholders was up 57 percent to P3.2 billion during the quarter from last year’s P2 billion.

For the full nine months of the year, the company’s net income also grew six percent to P8.6 billion from last year’s P8.1 billion, while net income attributable to parent company’s shareholders increased by 10 percent to P8.2 billion from January to September compared to last year’s P7.4 billion.

Consolidated revenues during the quarter rose by 50 percent to P14.5 billion from last year’s P9.6 billion. For the first nine months, its consolidated revenues likewise increased by 10 percent to P36.9 billion from last year’s P33.4 billion.

The company’s real estate sales led the recovery, soaring 102 percent to P9.6 billion during the third quarter compared to P4.7 billion during the same period last year, reflecting the expansion in construction activities.

Reservation sales for the quarter came in at P17.1 billion, reflecting a 35 percent increase year-on-year. (PR)

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