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Megaworld Corp. recorded profit of P5 billion in the first six months of the year, down 7 percent from P5.37 billion.
Revenues reached P22.2 billion, down 6.68 percent from P23.79 billion last year.
Rental revenues were down 13 percent to P6.3 billion from P7.2 billion last year. Real estate sales reached P13.5 billion, down 5 percent from last year’s P14.21 billion.
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Reservation sales were flat at P37.2 billion.
Hotel revenues hit P724 million, down 21 percent from P918 million as travel restrictions remained in place.
In the second quarter alone, Megaworld said profit hit P2.6 billion, up 39 percent from P1.9 billion last year.
