SMIC: Strong performance of banking units lifts profits

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The story "SMIC: Strong performance of banking units lifts profits" was covered 1 weeks ago by Business Mirror, a news publisher based in Philippines.

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SMIC: Strong performance of banking units lifts profits - Business Mirror

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.