SM’s Net Income Rises To PHP45 Billion

SM’s Net Income Rises To PHP45 Billion


GSIS Offers Computer Loan For Members

GSIS, ilulunsad ang Computer Loan Program upang matulungan ang mga miyembro nito at kanilang pamilya sa pagbili ng computer o laptop na gagamitin para sa kanilang mga trabaho o virtual classes ng kanilang mga anak.

Celebrate The Holidays With MMFF 2020, Globe, And Upstream

Globe and its partners also encourages moviegoers to fight online privacy.

More Than 124k Drivers, Operators Join Transport Cooperatives

A total 124,443 drivers and franchise owners and operators have joined accredited transport cooperatives ready for franchise consolidation.

Globe Recreates The Way You Learn With Special Promos

Globe introduces special Go promos for students and the GoTOK series to make quality learning and self-improvement accessible for everyone online and in real life!

SM Investments Corporation (SM) reported its net income rose 20% to PHP44.6 billion in 2019 from PHP37.1 billion in 2018. Consolidated revenues increased 12% to PHP501.7 billion from PHP449.8 billion the previous year.

“We had a good year in 2019 with all our core businesses delivering strong revenue and profit growth. The Retail Group added over 400 stores nationwide whilst the Property Group sustained its growth momentum led by residential and commercial developments. The Banking Group had a particularly good year as net income improved,” SM President Frederic C. DyBuncio said.

“We are confident about the long term growth potential of the country and we will continue to expand. We are committed to maintain a strong balance sheet that gives us the financial flexibility to fend off short term risks and to take on opportunities that may come our way,” Mr. DyBuncio added.

Operations under SM Retail Inc., which consist of non-food (THE SM STORE and specialty stores) and food stores (SM Markets), reported total revenues grew 9% to PHP366.8 billion. Net income likewise increased 10% to PHP12.5 billion.

THE SM STORE opened two new stores in Ortigas in Pasig City and Olongapo in Zambales. Total gross selling areas of all 65 department stores in 2019 stood at 806,230 square meters.

The food group, which includes SM Markets (SM Supermarket, SM Hypermarket and Savemore), Alfamart and WalterMart, added 248 new stores in 2019.

SM Retail added a total of 412 new outlets in 2019 across the portfolio.

By year end, SM Retail had a total of 2,799 outlets, comprising 65 THE SM STORES, 1,609 specialty retail outlets, 58 SM Supermarkets, 52 SM Hypermarkets, 201 Savemore, 60 WalterMart and 754 Alfamart stores.

SM Prime Holdings recorded consolidated net income growth of 18% to PHP38.1 billion from PHP32.2 billion the previous year. Consolidated revenues increased by 14% to PHP118.3 billion from PHP104.1 billion.

Philippine mall revenues recorded an 8% increase to PHP57.8 billion mainly driven by the 7% same-mall-sales growth across all mature malls. The cinema and event ticket sales reported a 6% growth to PHP5.5 billion. Revenues from amusement, merchandise sales and others went up by 15% to PHP3.9 billion.

SM Prime has 74 malls in the Philippines spanning 8.5 million square meters (sqm) of gross floor area (GFA) and seven malls in China with 1.3 million sqm.

SM Prime’s residential group, led by SM Development Corporation (SMDC), recorded a revenue growth of 24% to PHP45.2 billion due to higher construction accomplishments.

The rest of SM Prime’s businesses registered a combined revenue growth of 14% to PHP9.6 billion. This took into account the full-year revenue contribution of ThreeE-Com Center, the opening of National University Mall of Asia (NUMA) and the opening of Park Inn by Radisson hotels in Iloilo and in North EDSA, Quezon City.

BDO Unibank, Inc. (BDO) posted a net income of PHP 44.2 billion, up 35%. Net interest income grew by 22% to PHP 119.9 billion. Gross customer loans rose 9% to PHP2.2 trillion while deposits grew 3% to PHP2.5 trillion.

China Banking Corporation (China Bank) reported a net income growth of 24% to PHP10.1 billion. Net interest income grew 14% to PHP26.1 billion on the back of a 13% increase in gross loans to PHP577.9 billion. Total deposits rose 7% to PHP775.4 billion.

Balance Sheet
The total assets of SM grew 8% to PHP1.1 trillion. SM maintains a healthy balance sheet with a conservative gearing ratio of 36% net debt to 64% total equity.

Nueva Ecija IP Group Gets Training On Mushroom Processing

The Department of Agriculture in Central Luzon is promoting the processing of mushroom products that can give benefits to one’s health and provide additional source of income amid the challenges brought by the health pandemic.

Dar: Agri Modernization Key To Surviving Pandemic

Agriculture Secretary William Dar leads the harvesting of the different varieties of hybrid rice inside the 100-hectare demonstration farm of the Department of Agriculture in Caraga in Barangay Lemon.

Miss Cavite Billie Hakenson Comes Out As Bisexual

Another win for the LGBTQ community!

Gatchalian Files Bill Seeking Reforms To Improve Teacher Education

The Teachers Education Council will institutionalize the National Educators Academy of the Philippines, the Department of Education's professional development arm, which will provide and streamline professional development of teachers and school leaders.

Mayor Abby: Makati To Implement Teaching Fellowship Program

The Makati government is set to implement a teaching fellowship program in the city's three public elementary schools for two years.

AFP Units, Offices To Forego Christmas Parties This Year

Just like majority of offices in the country, the Armed Forces of the Philippines has decided to cancel their Christmas Party this year.

DOLE Gives P26-M Aid To 4K Bicolanos

The grant aims to see people's lives transform from good to better, then better to best, said Secretary Silvestre Bello III.

50 ‘COVID-Busters’ Deployed In Catanduanes Town

A total of 50 newly hired contact tracers of the Department of the Interior and Local Government in Bicol have been deployed to Virac town in Catanduanes province to help in the continuous fight against the COVID-19.

Churchgoers Thankful As Manila Raises Seating Capacity To 30%

Churchgoers from different religions express gratitude after seating capacity inside churches, mosques, and chapels in the city of Manila was raised to 30 percent from the previous 10 percent.

JTF Covid Shield Braces For More Economic Activities

Will your plans for the upcoming holidays push through?