SM PRIME Holdings Inc. has reported P11.6 billion consolidated net income in the first six months of 2021, 12 percent higher from P10.4 billion in the first half of 2020.
This is on the back of improvement in second quarter net income to P5.2 billion from P2.1 billion in the same period last year. First half consolidated revenues recorded at P41.1 billion, down six percent from P43.7 of 2020’s first half.
The reported improvement was due to the continued positive performance of the company’s residential business in the first half of 2021, as well as the company’s malls business in the second quarter of the year in spite of the effect of the reimplementation of stricter community quarantine from March to May 2021 in key areas such as Metro Manila and nearby provinces. (PR)