SM Prime Holdings, Inc., the country’s leading shopping mall developer and operator, reported an 11 percent rise in net income for the first quarter of the year to P1.5 billion, while EBITDA jumped 19 percent to P2.5 billion for an EBITDA margin of 71 percent.

Shopping mall giant SM Prime Holdings Inc. posted a net profit of P1.5 billion in the first quarter this year, up 11 percent from a year ago on higher income from lease operations.

SM Prime Holdings Inc. said on Tuesday its first-quarter earnings climbed with the addition of new malls and the expansion of existing ones. In a statement, the Philippines’ biggest mall developer and operator said its net income for the first three months rose 11 percent to P1.5 billion.

SM Prime Holdings Inc. (SMPHI) president Hans Sy has said the company is willing to wait on its plan to take full control over the 295-hectare (ha) South Road Properties (SRP) in Cebu City.

THE talk at a recent dinner party in Hong Kong hosted by one of Europe’s largest banks for a group of wealthy clients was centred – surprisingly – on the Philippine property sector.

SM Prime sets aside P35 B to continue expansion binge Top mall developer SM Prime Holdings Inc. is spending P35 billion over the next five years for the construction of new malls as well as the expansion or renovation of existing malls nationwide.

SM Prime Holdings, Inc., the country’s largest shopping mall developer and operator, will spend P35 billion in the next five years to open new malls and expand existing ones, President Hans T. Sy said yesterday.

SM Prime Holdings Inc.’s (SMPH.PH) first-quarter revenue likely rose 20%-25% on year on the continued expansion of its shopping mall network, company executives said Monday. SM Prime Executive Vice President Jeffrey Lim said preliminary figures showed 20%-25% on-year growth in revenue in the quarter ended March 31, while same-store sales were up 7% on year.

SM Prime Holdings Inc expects its net profit to increase by 10-13 pct this year from 5.45 bln pesos last year, according to its president, Hans Sy. ‘Two-thousand-and-seven is very promising in terms of guidance. We are looking at a 10-13 pct increase over 2006 net earnings with the opening of three new malls in Bacolod, Tagaytay and Muntinlupa.

SM Prime Holdings Inc.’s (SMPH.PH) revenue in the first quarter likely rose 20%-25% on year, on the back of the continued expansion of its malls, company executives said Monday.