SM Prime net income up 70% on trade gain, expansion

SM Prime Holdings Inc., the property vehicle of the Sy family, saw its consolidated net income soar by 70 percent in the first nine months of the year on the back of expansions in all its businesses and a one-time gain in the first quarter of 2015.

The company said its consolidated net income in January to September climbed by 70 percent to P22.9 billion from P13.5 billion a year earlier. A trading gain of P7.4 billion “on marketable securities booked in the first quarter of the year” was included in its nine-month earnings.