Megawide Optimistic of Surpassing 2024 Profit

Megawide Construction Corp. is looking to surpass its profit last year following a strong performance in the first half.

- By Richmond Mercurio

Megawide reported a net income of P436 million from January to June, which already represents 81 percent of the company's full-year 2024 net income.

Year-on-year, however, the company's net income was slightly lower than the P438 million recorded in the first half of 2024.

Revenues for the period stood at P8.6 billion as projects under construction enter the tail end of the life cycle.

"Based on our performance in the first six months of the year, we are on track to outpace our net income from the previous year. This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver," Megawide chairman and CEO Edgar Saavedra said.