SMIC: Strong performance of banking units lifts profits

Quick Summary:

SM Investments Corp.(SMIC), the Sy-led conglomerate, said its net income in January to September expanded by 9 percent to P60.9 billion from P55.9 billion last year.

Of total net income, banking accounted for the largest share at 50 percent, while property accounted for 27 percent, retail pitched in 15 percent while other portfolio investments contributed 8 percent.

Atlas Consolidated Mining and Development Corp.saw a revenue growth of 7 percent due to higher copper and gold prices, the company said.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: VG Cabuag

Category: BusinessStartups

Markets: PhilippinesChinaMali

Topics: Grew Consolidated Percent Year Growth Businesses Billion Revenues Income Retail Last

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 16:06:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 467 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23574669

View Article Analysis

About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 77 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 19 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

Publisher Details

Frequently Asked Questions