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MANILA, Philippines — Megawide Construction Corp. saw its consolidated net income rise by 26 percent in the first quarter to P265 million as stronger contributions from its construction and real estate businesses offset uncertainties arising from the Middle East crisis.
Its consolidated revenues grew by 14 percent to P4.81 billion during the January-to-March period, driven by improved results across its portfolio, the construction and engineering company led by tycoon Edgar Saavedra said on Thursday.
Construction remained the company’s biggest revenue contributor, accounting for P3.84 billion, up 5 percent from a year ago. Its real estate business more than doubled revenues to P831 million, while landport revenues stood steady at P138 million.
READ: Megawide order book hits P50B on strong housing push
