Photo shows the SM mall in Marikina City. PHOTO FROM SM MALLS FACEBOOK PAGE
Photo shows the SM mall in Marikina City. PHOTO FROM SM MALLS FACEBOOK PAGE

SM Prime Holdings Inc.'s (SMPH) stock price went down by 2.43 percent last Friday from its previous close last August 19, or from P37.95 to P37.05.

The latest closing price, however, is still above the stock's P19.20 lowest close recorded on Sept. 22, 2021 over a 52-week period. The highest closing price over a 52-week span was at P39.90 logged on Feb. 21, 2022. Its net income over the past three years are as follows: P38.79 billion in 2019, P18.14 billion in 2020 and P21.91 billion in 2021.

In the first half of this year, SMPH consolidated operating income recorded a 33-percent growth to P21.4 billion in 2022 from P16.1 billion in 2021.

"The growing domestic demand over the past period kept SM Prime's financial growth steady as reported in our first half of 2022 results. We are optimistic that despite the global economic slowdown, the local economy will continue to benefit from the sustained growth in remittances from overseas Filipino workers, the business process outsourcing industry, as well as the increase in local travel and tours activities," SM Prime President Jeffrey Lim said.

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SMPH was incorporated on Jan. 6, 1994 to acquire and develop real estate, conduct and maintain commercial shopping centers including shopping center spaces for rent, amusement centers, movie or cinema theaters, and to construct and manage buildings such as condominium, apartments, hotels, restaurants, stores and other structures for mixed-use purposes. The company has four business units: malls, residential, commercial, and hotels and convention centers.