ANDREW L. TAN’S Megaworld Corp. posted P8.4 billion in nine-month attributable net income, up by 3% from last year, as sales beat pre-pandemic levels.
Kevin L. Tan, the company’s chief strategy officer, said in a press release on Wednesday that while Megaworld’s bottom line “was tempered by the strong dollar, our underlying operations and profitability remained robust.”
January-September consolidated revenues reached P42.5 billion, 15.2% higher than P36.9 billion in the previous year. “Our strong topline performance during the year affirms our drive to not only reach our pre-pandemic levels, but to exceed it,” Mr. Tan added.According to the press release, real estate sales led Megaworld’s recovery as these increased by 13.4% to P26.2 billion for the nine-month period from P23.1 billion a year ago.Revenues from Megaworld Lifestyle Malls grew by 51% to P2.3 billion, driven by increased spending, higher foot traffic, and recovery of occupancy rate.
“Our core belief to put our clients in the forefront of our decisions proved beneficial as we continue to move closer and closer to pre-pandemic levels,” Mr. Tan said.At present, the company has 28 master-planned integrated developments across the country.Justine Irish D. Tabile
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