Megawide Construction Corp. said its precast and construction solutions (PCS) arm tripled its revenues in the first nine months of the year to P720 million, up 2 percent from last year’s P705.88 million.
This is more than three times the P206 million recorded two years ago.
“Of the aggregate amount, sales of precast remain as the biggest contributor at 54 percent, followed closely by batching plant or ready-mix concrete at 34 percent, and the remainder coming from equipment and formworks sales and rental,” Megawide said.
Megawide said it started to strategically offer its PCS services to external clients in 2018 to expand its footprint in the local industry and promote a more environment-friendly innovation.
“The segment is proving to be an emerging growth area for Megawide, not only as a pure complementary service under the company’s fully-integrated construction platform, but as a separate income-generating business catering to a wide array of residential, commercial, and industrial uses,” said Edgar Saavedra, Megawide chairman.
“As ancillary businesses, these legs can benefit from the company’s healthy order book as part of the value chain. Externally, they can also look for their own clients outside of Megawide to increase their customer base and diversify their revenue stream to leverage on the usability of precast as a natural progression in the construction industry,” he added.
