Image via WikipediaTycoon Andrew Tan-led Megaworld Corp. reported a 25-percent rise in its profit last year to a record P5.1 billion on robust sales of its residential, office and retail property portfolios.
Megaworld on Thursday disclosed to the Philippine Stock Exchange that its consolidated revenue hit P20.5 billion last year, up by 16 percent. Rental income from office and retail developments grew by 35 percent to P2.7 billion from a year before.
Tan is among the four tycoons in the country who made it to Forbes Magazine’s roster of the world’s billionaires (in dollar terms).
Megaworld said it remained in a strong net cash position, with cash and cash equivalents in its book amounting to P22 billion.
http://business.inquirer.net/money/topstories/view/20110317-326010/Megaworld-income-jumps-25
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