April 02, 2013

SMDC 2012 net Income Rises 17%

From a PSE disclosure: SM Development Corp (SMDC) posted a 2012 net income of P4.9 B, 17% higher YOY. In a recent study done by the Advisory and Research Services of Colliers International Philippines, SMDC captured the top spot in terms of number of units sold which corresponds to a 23% market share of the residential condominium units that were sold by the industry during 2012.

In addition, SMDC is among the top real estate developer of the residential condominium units sold in terms of value in the same year garnering 15% market share. 33% increase in revenue (P21.58 B) was due to higher sales volume and higher construction accomplishments as of 2012.