August 12, 2013

Megaworld profit up 15%

Megaworld said its first semester earnings hit P4.25 B, up 15% from a year ago, while total revenues rose 12% to P17.28 B during the same period. Megaworld posted strong sales in its Newport City, Uptown Bonifacio, McKinley Hill and Eastwood City township projects.

Megaworld, its medium-cost housing arm Empire East Land Holdings and affordable  housing unit Suntrust Properties Inc. recorded P38 B in reservation sales in the first half, 27% higher from last year. Megaworld said rental income from its BPO office developments and lifestyle malls surged 25% to P2.83 B in the first six months from P2.26 B last year. - WealthSec