Philippine property giant SM Prime Holdings says its net income in the first quarter increased 16 per cent based on higher rental income and residential sales.

Gross earnings increased 14 per cent to PHP26.5 billion (US$508.1 million) during the time period, while total outgoing grew 11 per cent to PHP13.6 billion ($260.7 million). Net income attributable to shareholders hit PHP8.8 billion ($168.7 million) in the first quarter, in comparison with PHP7.6 billion ($145.7 million) for the same period a year earlier.

Read more: https://insideretail.asia/2019/05/09/sm-prime-profit-rises-16-per-cent-in-first-quarter/