GERI logs 15-percent income growth in 2021

By Ed Paolo Salting

Jul 23, 2022 12:10 am

MEGAWORLD subsidiary Global-Estate Resorts Inc. (GERI) net income grew by 15 percent at year-end of 2021 to P1.49 billion from P1.30 billion in 2020, according to GERI President Monica Salomon during the company's annual stockholder's meeting.

GERI's consolidated revenues, though, shrunk by 4 percent from P5.2 billion in 2020 to P4.99 billion in 2021. The decline contrasted with the increase in operating expense from P3.25 billion in 2020 to P3.31 billion in 2021.

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