MANILA, Philippines — SM Investments Corp. (SMIC), the holding firm of the Sy family, posted a 7% increase in net income for the first quarter of 2026, reaching P21.5 billion, driven by robust performance across its core businesses.
Consolidated revenues grew 5% to P159.4 billion, reflecting resilient consumer demand and diversified income sources, the company announced on Wednesday.
Banking remained the largest profit contributor at 49%, followed by property (28%), retail (15%), and portfolio investments (8%).
Retail net income surged 13% to P4.1 billion, supported by strong non-food sales, particularly in department stores, buoyed by seasonal spending such as for graduations.
SMIC reported total assets of P1.8 trillion, with a conservative capital structure of 30% net debt and 70% equity.