For April to June, net profit declined by 56 percent to P2.1 billion from P4.8 billion year-on-year. One segment, Megaworld Premier Offices, recorded a 10-percent growth in leasing revenues to P5.6 billion in the first semester from P5.1 billion last year. Its contribution to Megaworld’s total rental income was at 78 percent, which mitigated the impact of the partial operations of Megaworld Lifestyle Malls because of the pandemic. Despite limited selling activities, Megaworld still posted P38 billion in reservation sales, which peaked during the second quarter. Megaworld shares increased by 3 centavos or 1.007 percent to finish at P3.01 each on Thursday.

Source: Manila Times August 13, 2020 16:41 UTC