SM Prime Posts P11.7 Billion Net Income in First Quarter

SM Prime Holdings, Inc., the leading integrated property developer in the Philippines, reported a net income of P11.7 billion for the first quarter of the year, matching its performance in the same period last year. The company attributed the steady results to strong contributions from its mall, residential, and commercial businesses. Despite economic headwinds, SM Prime maintained its growth trajectory through strategic expansions and operational efficiencies. The firm remains optimistic about the rest of the year, citing robust consumer demand and ongoing development projects.