Me­gaw­ide ex­pects to meet tar­gets

Manila Times - - BUSINESS - REICELENE JOY N. IG­NA­CIO

ME­GAW­IDE Con­struc­tion Cor­po­ra­tion said on Tues­day that it was guid­ance of P2.16 bil­lion af­ter net - ters in­creased by seven per­cent or P106 mil­lion, driven by the strong per­for­mance of its con­struc­tion and air­port seg­ments.

Me­gaw­ide re­ported a con­soli year, up from P1.6 bil­lion last year, com­ing from a con­struc and the bal­ance from the air­port mer­chan­dis­ing seg­ment.

“Air­port Op­er­a­tions busi­ness in Mac­tan-Cebu re­mains strong with dou­ble digit in­crease in pas vol­ume. As of the end third quar­ter of 2017, net earn­ings con­tri­bu­tion from Air­port Op­er­a­tions in­creased to P811.16 mil­lion com­pared to the same pe­riod in 2016 at P755.43 mil­lion,” Me­gaw­ide said in a dis­clo­sure to the Philippine Stock Ex­change.

“Con­struc­tion of new Pas­sen­ger Ter­mi­nal 2 in full swing ex­pected to be com­pleted by June next year to in­crease ca­pac­ity to to­tal of 12.5 mil­lion pas­sen­gers at peak hour,” the com­pany added.

Me­gaw­ide re­ported con­sol­i­dated rev­enue of P14.3 bil­lion for the nine months to Septem­ber, with the con­struc­tion seg­ment de­liv­er­ing P12.4 bil­lion or 87 per­cent of the con­sol­i­dated rev­enues com­ing from var­i­ous mixed-use and res­i­den­tial de­vel­op­ments.

Dur­ing the pe­riod, the com­pany broke ground for its big­gest sin­gle project, Ur­ban Deca Or­ti­gas, with a con­struc­tion con­tract of P14 bil­lion.

“New con­tracts con­trib­uted to the rev­enue growth for the year and will pro­vide rev­enue sup­port in the next two years,” Me­gaw­ide said.

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