Megaworld first half earnings rise 16%

Tycoon Andrew Tan’s Megaworld Corp. grew its net income by 16% to P8.3 billion in the first six months.

Consolidated revenues reached P31.7 billion, up 18% year on year on robust
residential sales, lease income from offices and malls as well as operations of the brands under Megaworld Hotels.

All core units posted double-digit growth.

Residential, rental, and hotel accounted for 63%, 26%, & 4% of the total revenues. Non-core revenues made up 7%

Megaworld said residential sales climbed to P20.2 billion from P18.1 billion. Sales reservations amounted to P80 billion.

It launched P39 billion in new inventory.

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