More articles about: SM Prime

SM Prime Reports Steep 46% Drop in Net Income in First Half of 2020

The company said it's still reeling from the effects of the coronavirus pandemic.

SM Prime Holdings, Inc., the property arm of the SM Group, reported a consolidated net income of P10.4 billion in the first half of 2020, down 46 percent from P19.3 billion during the same period last year. Consolidated revenue for the first six ...

Industry

SM Lost P8.8 Billion After It Waived Mall Rent for Two Months

Revenues are down for the first quarter of 2020 for the SM Group, but company says it has sufficient cash flow.

The SM Group reported that it lost a total of P8.8 billion in revenues after it waived rent for its shopping mall tenants from March 16 to May 15. Despite the loss, the company said it has “sufficient cash flow to support ...