MANILA Aug 8 Conglomerate SM Investments Corp
, the Philippines' most valuable listed firm, posted a 16
percent rise in first-half profit on Thursday after its shopping
mall, property, retail and banking businesses gained from robust
SM Investments, owned by the Philippines' richest man, Henry
Sy, reported a net profit of 12.6 billion pesos ($288
million)for January to June, compared with 10.9 billion pesos in
the same period last year.
Total revenue grew 16 percent to 122.1 billion pesos, it
said in a statement.
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 Unibank
Inc, and property firm SM Development Corp.
It also has interests in gaming firm Belle Corp.
SM is looking to expand into power generation and is part of
a group that may bid for a new $430 million passenger terminal
project at the Philippine international airport in central Cebu
To view the company's full disclosure on its results, click
($1 = 43.7000 Philippine pesos)
(Reporting by Erik dela Cruz; Editing by Paul Tait)