HENRY SY-led SM Prime Holdings, Inc. saw recurring net income grow 16 percent last year to P27.6 billion from P23.8 billion in 2016 on the back of increased sales from new malls and residential projects, underpinned by the sustained economic growth.

“SM Prime continues to benefit from the sustained overall economic progress of the Philippines that resulted to higher spending power for most Filipino families,” SM Prime President Jeffrey Lim told the stock exchange on Monday.

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