Strong consumer spending lifts SMIC earnings

SM Investments Corp. (SMIC), the flagship of the Sy family, posted a nine-percent growth in consolidated net income to P20.1 billion in the first quarter of 2025, from P18.4 billion in the same period last year, as rising consumer confidence translated to higher revenues.

- BY JAMES A. LOYOLA

The firm said its consolidated revenues from January to March rose six percent to P152 billion from P143.7 billion in the first quarter of 2024.

“We are encouraged by the positive start to 2025. Consumer confidence remains good and our businesses are well-positioned to serve in all categories. Positive sentiment is supported by falling inflation, which was at 1.4 percent in April,” said SMIC President and Chief Executive Officer (CEO) Frederic C. DyBuncio.

He noted that, “We continue to monitor uncertainties in the global macroeconomic environment, but remain positive about the Philippines. SM remains focused on serving and enabling our local customers and stakeholders.”