MANILA, Nov 8 (Reuters) - Philippine conglomerate SM Investments Corp said its nine-month profit climbed 14 percent on strong earnings growth in its banking, mall and retail operations.
SM, owned by the country’s richest man Henry Sy, said on Thursday it had net income of 16 billion pesos ($390 million) in January to September, compared with 14 billion pesos a year earlier.
SM owns SM Prime Holdings Inc which owns and operates malls in the Philippines and China, lenders Banco de Oro Unibank Inc and China Banking Corp, and property firm SM Development Corp . It also has interests in gaming firm Belle Corp.
$1 = 41.1 pesos Reporting by Erik dela Cruz; Editing by Rosemarie Francisco and John Mair