SM Investments net surges 30% to P56B

By Brix Lelis

Nov 09, 2023 12:33 am

SM Investments Corp. (SMIC) said Wednesday that consolidated net income in the first nine months of 2023 had jumped by 30 percent, to P55.9 billion from last year's P42.9 billion, as solid consumer confidence boosted overall sales.

In a statement, SMIC President and Chief Executive Officer Frederic DyBuncio said the sustained growth mirrored 'buoyant consumer activity in malls and sustained spending in discretionary retail categories.'

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