Property giant Megaworld Corporation, posted a net income of P15.4-billion in 2022, up 7% from P14.4-billion the previous year
- March 16, 2023
#InTheKnow: Megaworld Corporation, posted a net income of P15.4-billion last year, up 7% from P14.4-billion the previous year, boosted by double-digit revenue growth across all of its business segments. Net income attributable to the parent company’s shareholders stood at P13.5-billion. Consolidated revenues, on the other hand, grew by 17% to P59.5-billion from last year’s P50.8-billion.
The Company’s growth momentum was propelled by its real estate business, with residential sales expanding by 18% to P36.8-billion, with a strong 34% growth during the last quarter of the year.
Residential pre-sales surged by 49% to almost P119-billion in 2022, exceeding the Company’s target of P110-billion. Residential projects in Boracay Newcoast in Boracay Island; Paragua Coastown in San Vicente, Palawan; The Mactan Newtown in Cebu; The Upper East in Bacolod; Capital Town in San Fernando, Pampanga; and Maple Grove in General Trias, Cavite comprise the biggest chunk of pre-sales performance during the year.
Source: Megaworld’s Official Website