SM Prime Holdings, Inc. reported that net income for the first half of the year rose by 10 percent from P2.9 billion to P3.2 billion. Revenues posted an eight percent increase at P8.4 billion from P7.7 billion. The company attributed the rise last month to the performance of the three SM malls in China following their acquisitions last year. “In terms of gross revenues, the three malls in China contributed P0.37 billion for the six months ended June 30, 2008 and P0.29 billion in the same period 2007, or 4% of total consolidated operating revenues,” SMPH said.