Conglomerate SM Investments Corp. said net income climbed 9 percent in the first half to P18.1 billion from P16.6 billion in the same period last year, boosted by the strong performance of its retail and property businesses.

SMIC said consolidated revenues grew 12 percent in the six-month period to P204.9 billion from P183.2 billion in the same period last year.

The property business contributed the most to consolidated net income at 45 percent. This was followed by banks with 33 percent, and retail with 22 percent.

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