SM Prime digs for success

Philippines' leading mall, SM Malls Prime crossed the success line with their latest improvement of the sales in the big capital market. This SM Prime Holdings well- maintained the gross profit of their stocks to a 16 percent boost to P 27.6 B high rental revenue from the SM’s shopping mall branches and down to the residential market developments in the starting month of 2018.

This big SM Prime grew by almost 14 percent which also resulted to P90.9 billion pesos the past year, the SM Prime digs deeply to find the gold of their success.

“SM Prime continues to benefit from the sustained overall economic progress of the Philippines that resulted in higher spending power for most Filipino families. This translated to consistent growth of our key businesses that include higher rental revenues of our malls, increased residential units sales and growing contribution of our other business segments.” as part of the statement of SM Prime’s president Jeffrey Lim.

Tallying P53.2B revenue last year of 2017 and exceeding the target record of 11 percent (P45.3 billion) clearly improved the SM Prime’s reliability of developing their big market in the country.

Part of the SM Prime’s biggest recognition is the SM Cinemas located from the different cities and provinces contributing such a large percentage for the business’ good as well as for the SM Prime. The SM Development Corporation together with their residential groups also grew revenues by 18 percent to P30 billion last 2017 in their annual report.

The sales- up contributors took flight like the SM Prime’s big fishes, the Shore Residences and Shore 2 Residences in Pasay City, Air Residences in Makati City, and Fame Residences in Mandaluyong City. Each residential development businesses altogether contribute to increase for the following ready for occupancy or the RFO units in the allotted SM Prime branches in the Philippines.