DM Wenceslao and Associates Inc. (DMWAI) reported that its first-quarter core net income jumped almost three-fold to P961 million from P365 million a year ago. This excludes the adjustment of tax expense in the first quarter of 2021 due to the effect of the Corporate Recovery and Tax Incentives for Enterprises Act.
The company's rental revenues improved by as much as 13 percent from P497 million 2021 to P560 million in 2022, accounting for 35 percent of DWMAI's total revenues.
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