Megaworld 3-month profit up 6%
Megaworld Corp. posted a modest earnings growth of 6 percent to P6.2 billion in the first quarter, as steady leasing income cushioned the impact of global headwinds.
The Andrew Tan-led property giant said on Monday that its consolidated revenues had inched up to P21.6 billion in the first three months, slightly higher than P20.9 billion last year, with all core segments registering gains.
Leasing operations remained a key driver, with revenues climbing 6 percent to P5.6 billion.
Megaworld Lifestyle Malls led the growth, posting a 9-percent increase in revenues to P1.8 billion.
The company added more than 12,000 square meters of new retail space during the quarter.
Office leasing revenues rose 4 percent to P3.8 billion on firm demand from business process outsourcing firms and multinational companies.
