SM Consolidated Net Income Grows 26% in Nine Months

SM Consolidated Net Income Grows 26% in Nine Months

Spotlight

GSIS To Launch Two Mobile Apps This October

Mas madali mo nang ma-access ang iyong GSIS account gamit ang bagong mobile application nito!

Halloween @ Home: Recreate The Chills And Thrills With Globe At Home

End the Spooktober in a spooktacular way with Globe At Home!

Phoenix Introduces New FamilyMart Retail Format Through Cebu Stores

FamilyMart opens three new compact stores in Cebu, offering a unique customer experience in response to the effects of the COVID-19 pandemic.

Globe Introduces Mobile Health Solution With GoHealth

For just P20, you can now enjoy up to P,1000 health insurance from Pacific Cross!

SM Investments Corporation (SM) reported its consolidated net income grew 26% to PHP33.1 billion in the January to September period. Consolidated revenues also rose 14% 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. This quarter, we are also pleased that our efforts to strengthen our Environment, Social and Governance (ESG) practices are being recognized,” SM President Frederic C. DyBuncio said.

For the period year-to-date ending September, banks accounted for 44% of SM’s reported net earnings, followed by property at 39% and retail at 17%.
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. “This is something of which we are truly proud,” added Mr. DyBuncio.

In addition, SM was added as a member of the FTSE4Good index series in recognition of its strong 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.

Retail
Retail operations under SM Retail Inc., which consist of both food (SM Markets) and non-food (THE SM STORE and Specialty Retail), reported growth in total revenues by 12% to PHP253.9 billion. Net income stood at PHP7.8 billion, down 1% due to the effect of the implementation of the Philippine Financial Reporting Standards (PFRS) 16 which took effect this year. Excluding the impact of PFRS 16, net income grew by 8%. Revenues from Specialty Retail grew 15%.

The SM STORE opened a store in Olongapo City in September 2019. Total gross selling area of all 64 department stores stood at 802,219 square meters.

The Food Retail Group added seven Savemores, two SM Supermarkets and four WalterMart stores for a total of 13 new stores. Alfamart added 174 stores.

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.

Property
SM Prime Holdings, Inc. (SM Prime) reported consolidated net income growth of 18% to PHP27.6 billion and consolidated revenues rose 14% to PHP85.0 billion.

SM Prime’s Philippine mall revenues recorded an 8% growth to PHP42.0 billion. Same-mall-sales growth was sustained at 7%.

Revenues from the residential business, led by SM Development Corporation (SMDC), increased 26% to PHP31.9 billion. SMDC’s reservation sales grew 26% to PHP66.4 billion.

Banking
The net income of BDO Unibank grew 49% to PHP 32.1 billion. Net interest income rose to PHP88.5 billion, supported by a 6% increase in customer loans to PHP2.1 trillion and a 3% growth in total deposits to PHP2.4 trillion.

China Banking Corporation reported consolidated net income rose 21% to PHP6.7 billion. Net interest income increased 9% to PHP18.7 billion. Its loan portfolio expanded 10% to PHP552.5 billion while total deposits grew 12% to PHP777.2 billion.

Balance Sheet
Total assets of SM increased 7% to PHP1.1 trillion. Gearing ratio stood at 45% net debt to 55% equity.

France Heads For 2nd Virus Lockdown As Infections Soar

France is scheduled to enter a second coronavirus lockdown from Friday midnight until December 1.

Video Content Experience Is Better Using The Globe Network

Enjoy a better viewing experience even on mobile with Globe!

UK Study: Recovered COVID-19 Patients Lose Immunity Fast

Sadly, the battle doesn't stop after you recover from the COVID-19.

Comelec: Voters For 2022 Polls Estimated At 62-63M

Isa ka ba sa bilang na ito? Kung hindi pa, magparehistro na para makaboto sa 2022!

Palace: Red Cross Testing Halt Not Crippling Contact Tracing

Malacañang disagrees with the claim made by researchers that the decision of the Philippine Red Cross to stop conducting tests that are being charged to the PhilHealth will “cripple” the government’s isolation, quarantine, and contact tracing programs.

DSWD Distributes P1.2-M Worth Of Aid To ‘Quinta’ Victims

DSWD, namahagi ng tulong pinansyal sa mga biktima ng typhoon “Quinta.”

Leyte Town Residents Visit Departed Loved Ones Ahead Of ‘Undas’

Residents in Leyte have started paying respects to their departed loved ones ahead of All Saints' Day and All Souls' Day observance, shunning family gathering traditions in compliance with restrictions due to the COVID-19 pandemic.

Enhanced-Nutribun: Good For Both Undernourished And Healthy Pinoys

What makes the comeback of Nutribun special? Aside from having an enhanced taste, it also aims to benefit up to 1 million children!

BDO Leasing Earns P135 Million In 9M 2020

BDO Leasing records P135 million in net income for the first nine months of 2020, reversing the P39 million loss in the comparative period last year largely due to lower interest and financing charges.