“SM Prime continues to benefit from the sustained overall economic progress of the Philippines that resulted to higher spending power for most Filipino families,” SM Prime President Jeffrey Lim told the stock exchange on Monday. SM Prime reported consolidated revenues of P90.9 billion for 2017, up 13.9 percent from the P79.8 billion registered in 2016. Mall operating income improved by 10 percent to P28.4 billion in 2017 from P25.8 billion in 2016, while operating margin was steady at 53 percent. SM Prime said its other businesses registered revenue growth of 32 percent to P7.9 billion, while operating income increased by 35 percent to P3.6 billion. To date, SM Prime said it has seven office buildings with a combined gross floor area (GFA) of 456,000 square meters (sqm).

Source: Manila Times February 19, 2018 16:07 UTC