SM Prime Holdings Inc. said its net income in 2022 rose 38 percent to P30.1 billion from P21.8 billion in 2021 on the recovery of its malls. Know more:
SM Prime Holdings Inc. said its net income in 2022 rose 38 percent to P30.1 billion from P21.8 billion in 2021 on the recovery of its malls.“We are pleased to report that we ended 2022 on a positive note despite the challenges faced for the most of the year, owing to the robust consumer spending particularly in the last quarter,” Jeffrey Lim, SM Prime president, said.
With the resumption of full rental fees in the second half of 2022, SM Prime’s local mall rental income went up by 92 percent to P44.1 billion from P23 billion in 2021. As of end-December, SM Prime has 82 malls in the Philippines, consisting of 58 malls in the provincial areas, and 24 malls in Metro Manila.
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