Megaworld income increase by 36% with improved property sales, office rentals

CNN Philippines

Mar 31, 2022

EXCERPT


Real estate developer Megaworld Corp. recorded higher earnings in 2021 thanks to improving business conditions amid the COVID-19 pandemic, it announced Wednesday.


The firm reported in a regulatory filing a net income attributable to the parent company of ₱13.4 billion last year, 36% higher than its 2020 tally.


Megaworld likewise disclosed ₱50.8 billion in consolidated revenues in 2021, up from ₱43.5 billion the year prior.


Real estate sales rose by 25% to ₱31.1 billion, which the company attributed to a pickup in construction activities. Reservation sales also climbed to ₱80 billion, a 17% year-on-year growth.


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