SM Prime Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
August 13, 2024 at 10:17 pm EDT
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SM Prime Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was PHP 19,296.24 million compared to PHP 17,433.77 million a year ago. Revenue was PHP 33,968.77 million compared to PHP 31,222.06 million a year ago. Net income was PHP 11,603.76 million compared to PHP 10,002.48 million a year ago. Basic earnings per share from continuing operations was PHP 0.402 compared to PHP 0.347 a year ago. Diluted earnings per share from continuing operations was PHP 0.402 compared to PHP 0.347 a year ago.
For the six months, sales was PHP 37,831.52 million compared to PHP 34,527.23 million a year ago. Revenue was PHP 64,688.25 million compared to PHP 59,853.85 million a year ago. Net income was PHP 22,065.96 million compared to PHP 19,444.81 million a year ago. Basic earnings per share from continuing operations was PHP 0.765 compared to PHP 0.674 a year ago. Diluted earnings per share from continuing operations was PHP 0.765 compared to PHP 0.674 a year ago.
SM Prime Holdings, Inc. is a Philippines-based integrated property developer, which is engaged in the development of malls, residences, offices, hotels and convention centers. The Company has approximately 85 malls in Philippines and eight shopping malls in China, totaling 10.8 million square meters of Gross Floor Area (GFA). In the Philippines, the Company has a total of approximately 20,615 tenants and 2,183 tenants in China. The Mall segment develops, conducts, operates and maintains the business of modern commercial shopping centers and all businesses related thereto. Residential and commercial segments are involved in the development and transformation of residential, commercial, entertainment and tourism districts through sustained capital investments in buildings and infrastructure. The Hotels and Convention Centers segment is engaged in and carries on the business of hotel and convention centers and operates and maintains all services and facilities incident thereto.