SM Prime Holdings Inc. saw its consolidated net income slip to P8.3 billion in the first quarter of 2020 on account of the drastic measures the government implemented to curb the spread of the coronavirus disease 2019 in the country.

In a disclosure on Friday, the property unit of the Sy-led SM Group said the figure was a 5-percent drop from P8.8 billion year-on-year. Consolidated revenues also slid by 3 percent to P25.8 billion from P26.5 billion a year earlier, it added.

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