SM Investments Corp. (SMIC) reported a nine percent increase in earnings during the first six months of 2018, boosted by the double digit growth of its property and retail units amid flattish results from the banking business.

In a statement issued Thursday, the Sy-led conglomerate said net income climbed to P18.1 billion in the first half, higher than the P16.6 billion it posted in the same period a year ago. This driven by a 12% uptick in revenues to P204.9 billion, against P183.2 billion in the first half of 2017.

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