Megawide's net income doubles to P538M, revenues up 18% to P22.1B

Megawide Construction Corporation reported a doubling of its net income to P538 million last year from P269 million in 2023 due to increased revenues.

The company's consolidated revenues for the period amounted to P22.1 billion, marking an 18 percent increase compared to the previous year, driven by robust performance across various segments.

Construction revenues reached P21.0 billion, a 16 percent rise from 2023, contributing 95 percent of total revenue, while real estate operations saw a significant boost with revenues more than quadrupling to P711 million.

Megawide's Chairman and CEO Edgar Saavedra highlighted the company’s ability to adapt to market changes and maintain operational prudence amidst global and local uncertainties.

The firm secured new contracts worth P17.2 billion, including projects under the 4PH program in Cavite and Phase 1 of the Cavite Bus Rapid Transit system.