Megawide Construction Corp. is targeting a net income of about P1.2 billion this year, its chief finance officer said on Wednesday, citing lower borrowing costs from debt reduction and growth in its construction and real estate businesses. The company is optimistic about its earnings trajectory as it continues to streamline operations, according to a report by BusinessWorld.
The CFO noted that the company is "generally on track" with its plans and programs, supported by a stronger balance sheet and improved operational efficiency. The projected P1.2-billion net income represents a significant increase from previous years, reflecting the firm's recovery and expansion efforts.
Megawide’s construction segment continues to benefit from infrastructure spending, while its real estate unit is seeing steady demand despite market challenges. The company expects to sustain its growth momentum through strategic projects and disciplined financial management.