Megaworld posts P9.7B net income

MEGAWORLD Corp. grew its net income by 12 percent to P9.7 billion during the first nine months of 2022 from the P8.6 billion registered last year as real estate sales and rental income remarkably improved during the period.

Net income attributable to the parent company’s shareholders grew by three percent to P8.4 billion from January to September.

Consolidated revenues during the first nine months of 2022 reached P42.5 billion, a 15 percent growth from P36.9 billion last year.

Throughout the year, the company maintained its double digit growth across all its business segments.

Real estate sales continued to lead the company’s recovery, increasing by 13 percent to P26.2 billion during the first nine months of the year from P23.1 billion last year. (PR)