Megaworld Corp. announced on May 13 that its first-quarter 2008 net income grew by 29 percent to P1.01 billion, as revenues jumped by 63 percent to P4.67 billion. The company said real estate sales were the key growth drivers, surging by 79 percent to P3.31 billion as the company focused on the mid-income residential and business process outsourcing (BPO) office developments. Despite the current global uncertainty and higher inflation, Andrew Tan, Megaworld chairman and chief executive, said the company will hit P3.8 billion in profits in 2008. The new BPO office buildings slated for completion this year include E-Commerce Plaza in Eastwood City, Two and Three World Square at McKinley Hill, One Campus Place at McKinley Hill, and Newport Corporate Plaza at Newport City. On the retail side, Megaworld will open Eastwood City Mall by the end of 2008.
in Manila Times by Likha C. Cuevas-Miel
Wednesday, May 14, 2008
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