SM: Still plenty of room for growth in 2024 [Yahoo! Finance]
BDO UNIBANK S/ADR (BDOUY)
NASDAQ:AMEX Investor Relations:
bdo.com.ph/investor-relations/official-disclosures
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Source: Yahoo! Finance
"Even during the height of the Asian crisis, household consumption in the Philippines has been quite resilient, primarily driving sustained economic growth," SM Investments President and Chief Executive Officer Frederic C. DyBuncio said. Discretionary spending in key categories such as fashion, food and beverage as well as entertainment, among others, is buoying consumption activity. "We are positive about our retail business, and we continue to be mindful of our customers' needs as we offer choices that can match the size of their wallets," Mr. DyBuncio said. Substantial remittances from Overseas Filipino Workers (OFWs) are also supporting the consumption story of the Philippines . Adding fuel to consumption growth is BPO expansion and improving unemployment numbers. Many BPO firms have been moving to the provincial areas providing additional spending power to a young population. SM is expanding largely in provincial areas which present opportunities for establishing modern
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