SMIC said its consolidated net income from January to September 2015 also grew by 7 percent to P19.4 billion.
“Our strong results year-to-date reflect our ongoing focus on delivering footprint expansion across the country and on driving cost competitiveness in all our core businesses," SM president Harley Sy said in a statement on Wednesday.
The biggest contributor to SM's consolidated earnings for the first nine months is the banking unit, accounting for 40 percent.
BDO Unibank Inc. recorded net interest income growth of 12 percent to P41.8 billion in the first nine months, with net income up 5 percent to P17.6 billion.
SM's property unit, SM Prime, accounted for 39 percent of total earnings and reported income growth of 70 percent to P22.9 billion from January to September.
By the end of the year, SM Prime will have a total of 55 malls in the Philippines and six malls in China.
source: www.abs-cbnnews.com
