The country’s largest conglomerate, SM Investments Corp., grew its net profit in the first nine months by 10 percent year-on-year to P26.2 billion, driven mainly by the double-digit expansion in earnings from its property business.

Consolidated revenue in January to September rose by 12 percent to P307.4 billion, SMIC told the Philippine Stock Exchange yesterday.

“The results of the first nine months have been reassuring with the resilient performance of property, banking and retail. Our financial results reflect the ongoing strength of consumer sentiment, even as we continue to monitor inflationary pressures,” SM president Frederic DyBuncio said in a statement.

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