MANILA, March 3 SM Investments Corp, the
Philippines' second largest company by market value, on Monday
posted an increase of 11 percent in 2013 profit, driven largely
by the record earnings of its banking unit.
SM, owned by the country's richest man, Henry Sy Sr,
reported full-year net income of 27.4 billion pesos ($614
million) compared with 24.7 billion pesos the year before.
Revenue grew 13 percent to 253.5 billion pesos, the company
said in a statement. It did not disclose quarterly results.
SM has controlling stakes in SM Prime Holdings Inc
, which owns and operates malls in the Philippines and
China, as well as in the Philippines' biggest lender, BDO
Click on (link.reuters.com/nym37v) to view the
company's statement on its results.
(Reporting by Erik dela Cruz)