SM investments logs P42.9B net income

SM INVESTMENTS Corp. reported a consolidated net income of P42.9 billion from January to September this year, higher by 50 percent from P28.6 billion in the same period last year.

Consolidated revenues rose 31 percent to P381.9 billion in the first nine months from P292.6 billion in the same period last year.

Portfolio companies accounted for 13 percent of reported net earnings.

Banking took the largest share at 45 percent, followed by property at 23 percent, and retail at 19 percent.

Total assets were at P1.5 trillion. Gearing ratio stood at 38 percent net debt to 62 percent equity. (PR)