Published April 14, 2021, 3:55 PM Top urban township developer Megaworld Corporation reported a 45 percent drop in net income to P10.6 billion as consolidated revenues shrank 35 percent to P43.5 billion compared to 2019 due to the pandemic. In a disclosure to the Philippine Stock Exchange, the firm said attributable net income declined to P9.9 billion in 2020 from P17.93 billion in the previous year. “On a quarter on quarter basis, however, the last quarter of 2020 saw signs of remarkable recovery in most of the company’s core businesses, particularly on Megaworld Lifestyle Malls, Megaworld Hotels, and even on the residential business, as the country eased quarantine measures in time for the holiday season,” it noted.