NEW MALLS and sales of residential properties continued to drive SM Prime Holdings, Inc.’s earnings higher in 2017.

In a statement issued Monday, SM Prime said recurring profit grew 16% to P27.6 billion, after a 14% increase in consolidated revenues to P90.9 billion. The company attributed the growth to higher rental revenues from malls opened in the last two years, alongside the solid sales take-up of residential units in 2017.

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