SM Investments reports 85% jump in 1st half profit to P5.05B.

(From Philippine Daily Inquirer)

Byline: Elizabeth L. Sanchez

SM INVESTMENTS CORP. (SMIC), THE FLAGship of mall tycoon Henry Sy, posted an 85-percent jump in net profit for the first six months to P5.05 billion from P2.7 billion a year ago, bolstered mainly by one-time gain from the sale of shares linked to its banking subsidiary Banco de Oro Universal Bank.

Including its share in companies where it has a minority interest, net income in the first half rose 62 percent to P7.15 billion from P4.4 billion last year.

In a report to the Philippine Stock Exchange, SMIC said it booked extraordinary income of P1.3 billion in the first quarter of …