For the third quarter, its net income grew 46 percent to P3.3. billion from P2.2 billion as real estate sales doubled in the period, Megaworld told the stock exchange.
Consolidated revenues for the quarter rose by 50 percent to P14.5 billion from P9.6 billion in the same period last year, which brought the total to P36.9 billion from P33.4 billion last year, it said. Megaworld said real estate sales led the recovery after growing 102 percent to P9.6 billion in the third quarter from P4.7 billion in the same period last year.Reservation sales for the quarter was at P17.1 billion, up 35 percent year-on-year, it said.
"The recovery momentum has started to pick up and we hope that the lowering of the alert levels especially in Metro Manila will continue until the year-end. As more people safely go out and enjoy the normal life, the better for business and our economy as a whole," said Megaworld chief strategy officer Kevin Tan. Watch more on iWantTFC
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