Megaworld income rises 16%

Growth across all its key businesses fueled a double-digit earnings growth for property giant Megaworld Corp. during the nine months ending September.

- By RICHMOND MERCURIO

Megaworld saw its net income rise by 16 percent to P15.69 billion from January to September, while profit in the third quarter alone jumped by 26 percent year-on-year to P5.87 billion.

Net income attributable to parent company for the nine-month period grew by 14 percent to P13.73 billion, while attributable net income during the third quarter expanded by 25 percent.

Revenues generated during the nine-month period climbed by 23 percent to P59.78 billion, driven by the company's strategic execution and its ability to drive growth across its diversified portfolio.