GMANews.TV - Rental income drives SM Prime profits up 11% in Q1
Listed mall operator SM Prime Holdings Inc., reported Tuesday that its net income rose 11 percent to P1.5 billion in the first quarter of 2007.
In a statement sent to the media, SM Prime said gross revenues for the period grew 24 percent to P3.6 billion, driven by rental income from malls that opened in 2006.
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