Shang Properties net income dips 5.3%

HIGH-END property developer Shang Properties Inc. reported a 5.31 percent decline in its net income for the first six months of the year as higher outweighed increased condominium sales.

In a financial report to the Philippine Stock Exchange, Shang Properties said its net income for the first six months dropped to P1.25 billion from last year’s P1.32 billion, pressured by higher expenses.