SM 9-Month Profit Hits P33.1 Billion

SM 9-Month Profit Hits P33.1 Billion

Spotlight

Save The Children Philippines Launches “E-Regalo Sa Mga Bata”

For every Php 10,000 raised through E-Regalo sa mga Bata, Save the Children will provide learning kits and life-saving essentials to 20 children.

DOTr Sec. Tugade Urges Drivers Of PUV To Participate In Gov’t’s Service Contract Program

Sa ilalim ng Service Contracting Program ng LTFRB, maaaring makatanggap ng karagdagang kita ang mga drayber na lubos na naapektuhan ang pangkabuhayan dahil sa COVID-19 pandemic.

In New Education Normal, Volunteers Help Fill Crucial Learning Gaps

“I volunteered because I didn’t want these kids to waste their time learning nothing,” says Emy Tarnate, one of the hundreds of volunteers helping children survive an education system altered by a global health crisis.

ECHO, OXFAM, World Vision, And ADRA Partner To Support Goni-Displaced Families In Bicol

World Vision, along with several of its partners, vows to provide immediate aid to the most affected communities in the hard-hit areas of the Bicol region.

Conglomerate SM Investments Corporation (SM) booked a 26-percent increase in net income in the first 9 months of the year, driven mainly by banking and property businesses.

In a statement, SM said its consolidated net income reached PHP33.1 billion from January to September, up from the PHP26.2 billion during the same period last year.

Consolidated revenues also rose 14 percent to PHP350.7 billion from PHP307.4 billion year-on-year.

“Our core businesses continue to deliver notable performance led by banking and property. We are satisfied with our financial results as these reflect the continued growth in our core businesses,” SM President Frederic DyBuncio said.

For the period year-to-date ending September, banks accounted for 44 percent of SM’s reported net earnings, followed by property at 39 percent, and retail at 17 percent.

Retail operations under SM Retail Inc., which consist of food (SM Markets) and non-food (THE SM STORE and Specialty Retail), reported growth in total revenues by 12 percent to PHP253.9 billion, while net income declined slightly by 1 percent to PHP7.8 billion.

By end-September 2019, SM Retail had a total of 2,693 stores comprising 64 The SM STOREs, 1,565 specialty retail stores, 58 SM Supermarkets, 51 SM Hypermarkets, 199 Savemores, 56 WalterMarts and 700 Alfamart stores.

SM Prime Holdings, Inc. (SM Prime) reported consolidated net income growth of 18 percent to PHP27.6 billion and consolidated revenues rose 14 percent to PHP85 billion.

Net income of BDO Unibank grew 49 percent to PHP32.1 billion, as net interest income rose to PHP88.5 billion on increase in customer loans and total deposits.

China Banking Corporation reported consolidated net income rose 21 percent to PHP6.7 billion.

In August 2019, SM joined the United Nations Global Compact (UNGC) consisting of leading global companies to uphold the UNGC’s 10 Sustainability Principles.

SM was also recognized by Forbes as one of the 250 best regarded companies in the world on its global 2000 list in September 2019.

In addition, SM was added as a member of the FTSE4Good index series in recognition of its strong Environment, Social and Governance (ESG) practices. FTSE4Good is managed by FTSE Russell of the London Stock Exchange Group and is designed to identify companies that demonstrate strong ESG practices against globally recognized standards. (PR)

Velasco Joins Army Reserve Corps

Speaker Lord Allan Velasco on Wednesday took his oath as a Lieutenant Colonel in the Reserve Force of the Philippine Army.

realme Grabs PH Top 1 Smartphone Brand Slot In Just 2 Years

realme Philippines claims the number 1 spot in the country's smartphone market, recording triple-digit growth in Q3 2020!

4 NegOr Soldiers Receive Gold Cross Medals

Four soldiers were awarded with gold cross medals for fulfilling their duties to protect and keep the peace in its area of operations.

All Expressways ‘100% Ready’ For Cashless Transactions By Dec. 1

Both government officials and Luzon expressways are 100% ready for the full implementation of cashless toll payments beginning December 1.

SMC To Open 100 Add’l RFID Installation Sites In North And South To Meet Surge In Demand

To accomodate the increased number of motorists wanting to avail of the free RFID stickers, SMC is putting up 100 additional RFID installation sites!

POEA To Launch Online Job Fair On 1st Week Of December

Naghahanap ka ba ng trabaho abroad? Abangan ang online job fair ng POEA sa Disyembre!

Rey Valera Returns To “It’s Showtime” For “Tawag Ng Tanghalan’s”

Muling nagbabalik betaranong singer-songwriter na si Rey Valera sa “It’s Showtime!"

Introducing KinKo – Telling The Stories Of Pets And Their People

Let your pets support local too! Check out KinKo in Instagram and Facebook for 100% locally-crafted and sourced products!

21 Negrense Centenarians Receive Cash Incentives

At least 21 centenarians in Negros Occidental received cash incentives amounting to PHP100,000.

DOH Observes Low Covid-19 Positivity Rate In Central Visayas

Despite the notable rise in COVID-19 cases in this city, DOH-7 has observed a low positivity rate in Central Visayas as it reported 27 additional recoveries in the region.