Consumer spending lifts SM Investments income

SM Investments Corp. (SMIC) on Wednesday reported netting P77 billion last year, 25 percent higher compared to 2022's P61.7 billion, driven by improved essential and discretionary spending.

Consolidated revenues rose 11 percent to P616.3 billion from the P553 billion recorded a year earlier, the Sy family's holding company said in a statement.

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