SM Prime Holdings, Inc. or SMPH is a Philipine company whose business is developing and operating modern malls, shopping centers and other related business. The said company was started in January 1964 and had expanded since all over the country and in China. Its main sources of revenues include rental income from leases in mall and food court, cinema ticket sales and amusement income.
SMPH currently has 41 SM Supermalls (SM Masinag is newly opened last May 6, 2011) in the Philippines with a total floor area of 5,078,950 sq meter. SMPH also has 3 malls in China with total floor area of 572, 645 sq.m.
*newly opened last May 6, 2011.
SMPH's gained 16% increased in gross revenues for the year 2010 compared to previous year. This is mainly from the rental revenues due to new malls and expansions in 2010. On the average, allocation of revenues is as follow: 85% rental, 11% ticket sales, 4% others.
Net Income for 2010 increased 12% compared to 2009.
Click here for the continuation: SMPH Company Review (FY 2010 & 1Q2011) Part 2.