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Megaworld net earnings dip to P5 B in first half – Manila Bulletin


Published August 4, 2021, 4:50 PM
Megaworld Corporation, the country’s largest developer of integrated urban townships, reported a 7 percent decline in attributable net income to P5.0 billion in the first half of the year compared to the same period of 2020.
In a disclosure to the Philippine Stock Exchange, consolidated revenues reached P22.2 billion, but netting out the impact of interest and other income, the company’s core revenues registered at P20.6 billion.
Rental revenues decreased by 13 percent to P6.3 billion during the first half of the year compared to P7.2 billion in the same period of the previous year.
Real estate sales amounted to P13.5 billion, down 5 percent year-on-year, while reservation sales ended flat at P37.2 billion during the first half of 2021. ....

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Megaworld profit shrinks 45% to P10.6 B


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. ....

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