Property giant SM Prime Holdings Inc. grew its net profit last year by 17 percent year-on-year to a record high P32.2 billion on a double-digit growth in shopping mall space rental and residential development businesses.

In the fourth quarter alone, SM Prime grew net profit by 16 percent year-on-year to P8.7 billion on the back of a 13-percent year-on-year growth in revenues to P29.5 billion.

Read more: https://business.inquirer.net/264910/sm-prime-profit-hits-record-p32-2b