Megawide back to profitability

By Ed Paolo Salting

May 09, 2023 12:15 am

MEGAWIDE Construction Corp. returned to profitability in 2022 via a consolidated net income of P2.83 billion in 2022, recovering from a P893.15-million loss the previous year.

The construction firm on Monday cited gains from an airport transaction, representing part of the upfront value from a divestment in GMR Megawide Cebu Airport Corp., and one-off items related to terminated projects in the construction segment that were negatively impacted by the Covid-19 pandemic.

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