SM Prime net profit surges 17% to P32.2B in 2018home/Business/Top Business/SM Prime net profit surges 17% to P32.2B in 2018SM Prime Holdings Inc. saw its net income jump by 17 percent to P32.2 billion last year, from P27.6 billion in 2017, on the back of higher revenues. SM Prime currently has 72 malls nationwide with a combined gross floor area (GFA) of 8.3 million square meters (sqm). For the residential segment, SM Prime said unit SM Development Corp. (SMDC) reported reservation sales growth of 25 percent of P72.3 billion from P57.8 billion. SM Prime has 11 office buildings at present with a total GFA of 623,000 sqm. SM Prime shares rose by 65 centavos on Monday to finish at P39.30 each, bucking the Philippine Stock Exchange index’s 0.12-percent drop.

Source: Manila Times February 11, 2019 16:59 UTC