- SM Prime Holdings reported a net income of 11.6 billion pesos for Q2 2024, up 16% compared to the previous year.
- The company’s Q2 revenue stood at 34 billion pesos, reflecting a 9% increase year-over-year.
- For the first half of 2024, SM Prime’s net income was 22.1 billion pesos.
- Total revenue for the first half reached 64.7 billion pesos, an 8% rise compared to the same period last year.
- The mall business contributed 58% to SM Prime’s consolidated revenues.
- Mall rental revenues in Q2 were 16.3 billion pesos, a 10% increase from the previous year.
- In the first half, mall rental revenues totaled 32.1 billion pesos, up 9% year-over-year.
- Total mall revenues for the first half of 2024 amounted to 37.5 billion pesos, marking an 8% increase compared to the previous year.
- The primary residential business unit accounted for 29% of consolidated revenues in the first half of 2024.
- The offices, hotels, and convention centers business segments reported 7 billion pesos in revenues in H1 2024, marking a 13% increase year-over-year.
- SM Prime’s shares dropped 4.5% to 27.90 pesos, with 9.81 million shares traded.
- The stock has 18 buys, 2 holds, and no sell recommendations.
A look at Sm Prime Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
SM Prime Holdings Inc. is poised for a positive future according to the Smart Karma Smart Scores. With a strong Growth score of 4 out of 5, the company shows promising potential for expansion and development in various sectors including residential properties, shopping malls, offices, hotels, and convention centers. This signals a bright outlook for the company’s continued success and growth in the long term.
While SM Prime Holdings demonstrates moderate scores in Value, Dividend, Resilience, and Momentum, the high Growth rating brings a sense of optimism for investors looking at the company’s overall prospects. With its diversified portfolio and strategic focus on growth opportunities, SM Prime Holdings appears to be well-positioned for sustained success in the future.
Summary: SM Prime Holdings Inc. is actively involved in the development of residential property, shopping malls, offices, hotels, and convention centers through its subsidiaries, showcasing a diverse and robust business portfolio.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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