Megaworld ’23 profit at P19.4B

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Megaworld Corp. said it grew its profit for the year by 26 percent to P19.4 billion from P15.04 billion the prior year.

Profit less minority interest was at P17.3 billion, up 29 percent. Revenues grew 17 percent to P69.7 billion.

Real estate sales grew 16 percent to P42.7 billion, a record, buoyed by strong bookings.

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Reservation sales reached P139 billion, surpassing the company’s P130 billion target by 17 percent.

Leasing revenues hit P17.9 billion, up 14 percent, with mall revenues at P5.3 billion. Office revenues were at P12.6 billion.

The hotes business under Megaworld Hotels & Resorts posted a 46 percent increase in revenues to P3.8 billion.

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