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Stock impact report

SM Investments grows net income by 25% to PHP 77 billion in 2023 [Yahoo! Finance]

BDO UNIBANK S/ADR (BDOUY) 
Company Research Source: Yahoo! Finance
Consolidated revenues increased 11% to PHP616.3 billion from PHP553.0 billion last year. "SM's performance as a group last year reflected our ability to stay close to our customers and address their needs regardless of uncertain economic conditions," said SM Investments President and Chief Executive Officer Frederic C. DyBuncio. "A key success driver was the healthy spending patterns of Filipino consumers in both essential and discretionary purchases, particularly in fashion, dining and entertainment," he added. In terms of net income contribution, banking provided the largest share at 47%, while property accounted for 25%, retail contributed 19% and portfolio investments delivered 9%. Retail SM Retail Inc., which consists of grocery, department store and specialty retail, reported revenues of PHP415.0 billion , up 10% on consistent growth across key segments. Net income increased 11% to PHP19.9 billion As essential spending continued to be steady, revenues from SM's Food Show less Read more
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