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Property developer SM Prime Holdings Inc. said Monday its net income grew 16 percent in the second quarter of 2024 to P11.6 billion from P10 billion in the same period last year on double-digit growth in mall and residential sales.
The company’s residential business unit recorded P10.4 billion in revenues in the quarter, a 23-percent hike from P8.5 billion a year ago. Mall revenues from January to June climbed 8 percent to P37.5 billion from P34.6 billion a year earlier, while residential sales also went up by 8 percent to P18.9 billion. The company’s reservation sales stood at P40.2 billion in the first half of 2024.
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