Filinvest Land nets P2.12B in Jan-June
by Earl John Alfaro on August 7, 2025 at 4:13 PM
FILINVEST Land Inc. posted a net income of P2.12 billion in the first half of 2025, up a modest 1 percent from a year ago as a surge in financing and operating costs tempered increased revenues.In a disclosure on Thursday, Filinvest Land said consolidated revenues rose 6.31 percent to P12.21 billion from P11.49 billion a year earlier, driven by growth in both leasing and residential operations.Leasing revenues jumped by 11.63 percent to P4.10 billion, supported by higher occupancy levels and rental escalation in the office and retail segments.Office leasing revenues increased by P265.47 million while retail leasing contributed an additional P81.62 million, with the co-living segment adding P21.73 million from its fully leased property, The Crib Clark.Real estate sales were flat at P7.48 billion with the residential portfolio showing steady revenues, led by middle-income housing accounting for 70 percent, while the remainder came from affordable and low affordable (19 percent), high-end and others (6 percent), and socialized housing (5 percent).Higher costs offset the rise in revenues as interest and other finance charges surged by 32.36 percent to P2.12 billion.Rental services costs increased by nearly 15 percent to P2.09 billion while selling and marketing expenses reached P696.92 million. General and administrative expenses rose to P1.26 billion, driven by higher taxes, manpower costs and repairs.Interest income, however, improved by 46.60 percent to P206.83 million on better returns from short-term investments.“Our focused efforts on targeted rent strategies and tighter cost controls have proven effective in boosting both occupancy and [earnings before interest, taxes, depreciation and amortization], supporting the steady growth of our leasing business,” Filinvest Land President and CEO Tristan Las Marias said.Retail leasing revenues reached an all-time high of P1.32 billion, up 11 percent year on year, lifted by robust performance at the Festival Mall and improved occupancy at regional malls.Office leasing, which includes both real estate investment trust (REIT) and non-REIT assets, posted P2.48 billion in revenues, up 8 percent, as occupied gross leasable area grew to 398,000 square meters.The industrial business also gained ground, with all nine ready-built factories in Calamba and New Clark City fully leased out, contributing P153 million in revenue.On the residential front, Filinvest cited solid performance in non-Metro Manila areas, with Luzon (excluding the National Capital Region) and the Visayas-Mindanao each contributing 37 percent of total option sales.The company’s real estate investment trust arm Filinvest REIT Corp. (FILRT) reported a net income of P651 million in the first half, up 8.3 percent from last year, as revenues grew 13 percent to P1.57 billion following the acquisition of Festival Main Mall.As of end-June, FILRT’s portfolio included 17 office buildings, one mall and one resort lot, with overall occupancy improving to 86 percent, up from 81 percent a year ago.Meanwhile, FILRT’s board approved a P0.062 per share dividend, payable on Sept. 5 to shareholders on record as of Aug. 20 and bringing year-to-date dividends to P0.186 per share.Filinvest Land shares closed unchanged at P0.82 each while FILRT’s fell by a centavo, or 0.29 percent, to P3.48 on Thursday. The benchmark Philippine Stock Exchange index closed the day down 0.09 percent.
Filinvest Land posts 1% increase of P2.12B in H1 2025
by Earl John Alfaro on August 7, 2025 at 5:48 AM
MANILA, Philippines — Gotianun-led Filinvest Land Inc. posted a net income of P2.12 billion in the first half of 2025, marking a modest 1 percent increase from the same period last year as higher revenues were tempered by a surge in financing and operating costs.In a disclosure on Thursday, Filinvest Land’s consolidated revenues rose by 6.31 percent year-on-year to P12.21 billion, from P11.49 billion a year earlier, driven by growth in both leasing and residential operations, according to its disclosure to the stock exchange.Leasing revenues jumped by 11.63 percent to P4.10 billion, supported by higher occupancy levels and rental escalations in the office and retail segments. Office leasing revenues increased by P265.47 million, while retail leasing contributed an additional P81.62 million, with the co-living segment adding P21.73 million from its fully leased property, The Crib Clark.Meanwhile, real estate sales remained flat at P7.48 billion, supported by demand in the industrial and raw land segments. The residential portfolio remained steady, with middle-income housing accounting for 70 percent of product mix.The remainder was divided among affordable and low affordable (19 percent), high-end and others (6 percent), and socialized housing (5 percent).Increased revenues were partially offset by rising costs and expenses, with interest and other finance charges surged by 32.36 percent to P2.12 billion, attributed to higher debt levels and interest rates.Cost of rental services also increased by nearly 15 percent to P2.09 billion, mainly from depreciation and direct operating costs due to the expansion of the leasing business.Selling and marketing expenses reached P696.92 million, while general and administrative costs rose to P1.26 billion, driven by higher taxes, manpower costs, and repairs. Interest income, however, improved by 46.60 percent to P206.83 million on the back of stronger returns from short-term investments.Filinvest Land President and CEO Tristan Las Marias said “Our focused efforts on targeted rent strategies and tighter cost controls have proven effective in boosting both occupancy and [earnings before interest, taxes, depreciation and amortization], supporting the steady growth of our leasing business.”
Globe telecoms blocks over 8K scam messages, malicious domains, illegal gambling sites in H1 2025
by Ed Paolo Salting on August 7, 2025 at 5:42 AM
MANILA, Philippines — Globe Telecom, Inc. said on Thursday that it has blocked more than 484 million scam and spam messages, shut down 5,707 domains tied to child exploitation and took down 2,785 illegal gambling sites in the first half of 2025 as part of efforts to protect Filipino users online.Globe also said its StopSpam portal processed 87,624 SIM reports in the first half of 2025, resulting in the deactivation of 9,961 SIMs on its network and blacklisting of 77,065 SIMs from other networks.The company added that its filtering system also blocked 248,552 URLs containing child sexual abuse and exploitation materials with 8,385 URLs containing non-photographic images (NPIs).These new figures follow Globe’s efforts in 2024, when it blocked over 414,544 malicious URLs across its network.”People just want to feel safe when they go online. Our job is to make sure they can. We don’t wait for problems to escalate. We intercept threats early, work with global partners, and build smarter defenses into every part of our network,” Globe Chief Information Security Officer Anton Bonifacio said.
SM Investments reports 6% increase in net income for first half; revenues up across core segments
by Earl John Alfaro on August 6, 2025 at 4:28 PM
SM Investments Corp. (SMIC), the holding firm of the SM Group, posted a consolidated net income of P42.6 billion in the first half, up 6 percent from P40.2 billion a year ago and driven by steady growth across its core segments.Revenues climbed by 6 percent to P319.2 billion from P301.4 billion previously.“We continue to see steady growth across our core businesses, supported by favorable macroeconomic conditions in the Philippines,” SM Investments President and CEO Frederic DyBuncio said in a statement on Wednesday.“Bank lending remains strong, and consumer spending in our malls and retail stores continues to rise,” he added.“The Philippine economy was steady at 5.4 percent growth in the first quarter, while inflation has eased to its lowest level since 2019, creating a more supportive environment for both corporates and consumers. Despite global trade uncertainties, overall sentiment remains positive, and we share that optimism for the remainder of the year.”Banking contributed the largest share to SM’s consolidated earnings at 50 percent, followed by property (28 percent), retail (15 percent) and portfolio investments (7 percent).BDO Unibank Inc. recorded a 3-percent increase in net income to P40.6 billion from P39.4 billion, driven by higher net interest income and customer loans.China Banking Corp., meanwhile, reported a 14-percent rise in net income to P13.0 billionIn the retail segment, SM Retail’s net income rose 10 percent to P8.4 billion from P7.6 billion year on year as consolidated revenues grew 8 percent to P211.8 billion from P196.3 billion.In nonfood retail, department store revenues expanded by 11 percent, helped by a shift in the school opening to the second quarter.Specialty retail revenues increased 5 percent, fueled by spending on back-to-school items, fashion, health and beauty, while revenues from food retail rose 8 percent to P127.1 billion.Property unit SM Prime Holdings Inc., meanwhile, posted an 11-percent jump in first-half net income to a record P24.5 billion on the back of stronger rental income, real estate sales and ancillary revenues.In other portfolio investments, SM Investments said Philippine Geothermal Production Co. contributed 35 percent of portfolio income, followed by NEO at 30 percent and 2GO at 16 percent.As of end-June, SM Investments’ total assets stood at P1.7 trillion, up 2 percent, while the gearing ratio remained conservative at 32-percent net debt to 68-percent equity.The company’s shares dipped by P2.50, or 0.30 percent, to close at P825.00 each on Wednesday amid a 0.27-percent rise for the benchmark Philippine Stock Exchange index.
San Miguel Food and Beverage sees 15% net income rise in first half
by Earl John Alfaro on August 6, 2025 at 4:27 PM
SAN Miguel Food and Beverage Inc. (SMFB) on Wednesday reported a consolidated net income of P23 billion for the first half, up 15 percent from the same period last year and said to have been driven by steady sales and improved cost management.The food and beverage firm said consolidated revenues rose 4 percent year on year to P201.2 billion.Operating income rose 13 percent to P30 billion, while earnings before interest, taxes, depreciation and amortization reached P39.3 billion, reflecting a 20-percent margin.“Our first-half performance shows the strength of our operations and our ability to execute on long-term strategic goals,” San Miguel Food Chairman Ramon Ang said in a statement.“We will continue to invest in capacity, improve efficiency and expand our reach to deliver lasting value to our customers and stakeholders while making everyday food and beverages more accessible to Filipino families.”San Miguel Foods led the growth, booking P94.4 billion in revenues, up 7 percent year on year, and driven by higher volumes and favorable pricing across key categories including chicken, canned meats, spreads and coffee.Operating income from food operations surged 41 percent to P8.6 billion, while net income jumped 53 percent to P6 billion.San Miguel Brewery, however, saw revenues dip by 1 percent to P74.6 billion amid weaker domestic demand, partially offset by a 2-percent growth in international sales to $144.8 million, led by markets in South China and Vietnam.Despite the revenue dip, operating income in the beer segment inched up 2 percent to P16.2 billion, and net income rose 3 percent to P13 billion.Ginebra San Miguel, the group’s spirits unit, reported a 7-percent increase in revenues to P32.2 billion, supported by improved pricing and stable volumes. Operating income rose 12 percent to P5 billion, and net income grew 16 percent to P4.2 billion.San Miguel Food and Beverage’s shares rose 15 centavos, or 0.28 percent, to P54.60 apiece on Wednesday.