SM Prime posts P22B net income in 9 months

SM PRIME Holdings Inc. (SM Prime) reported P22 billion consolidated net income in the first three quarters of 2022, 41 percent higher than last year’s P15.6 billion.

This is supported by the P73.7 billion in consolidated revenues, a 30 percent growth from last year’s P56.8 billion.

Consolidated operating income rose by 61 percent to P34.6 billion in the first nine months of 2022 from P21.6 billion in the same period last year.

SM Prime’s consolidated net income in the third quarter doubled to P7.9 billion from P4 billion in the same period last year.

Consolidated revenues in the third quarter of 2022 have reached P27.3 billion, 74 percent higher than P15.7 billion in the third quarter of 2021. Consolidated operating income rose to P13.3 billion in July to September of 2022 from P5.5 billion in the same months last year. (PR)