SM Prime Holdings, Inc. reports 12% increase of its consolidated net income in the second quarter of 2014 vs. the same period last year
Pasay City, Philippines, 2014-8-5 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property development companies in Southeast Asia, reported consolidated net income increase of 12% to Php5.22 billion in the second quarter of 2014 from Php4.66 billion in the same period last year, slightly higher than the 11% growth posted the previous quarter. Consolidated revenues, posted higher growth of 11% to Php18.08 billion, year-on-year from previous quarter growth of 3%. This brought first half 2014 income and revenue figures to Php9.80 billion, up by 12%, and Php33.42 billion, up by 7%, respectively.
“The results were very encouraging as we sustained our growth from the previous quarter. This gives us confidence to meet our full year target. We are looking forward to hitting our key targets for the rest of the year. This should pave the way in achieving our 5-year roadmap set in April of this year.” said SM Prime President Hans T. Sy.
Rental revenues (accounted for 50% of the consolidated revenues) grew by 13% to Php9.11 billion in second quarter 2014 from Php8.08 billion in same period in 2013. In the first six months, rental revenues rose 12% to Php17.67 billion. The increase in rental revenue was primarily due to the new malls opened in 2013 and 2014 plus the shopping spaces added in existing malls
namely in SM Megamall which contributed an additional 101,000 sqm. The cumulative mall space added in the past two years was close to 550,000 sqm, an increase by 8% to 6.57 million sqm.
Meanwhile, same-store rental growth was at 7% in the second quarter, sustaining the growth posted in the first quarter of the year. In the first six months, same-store rental growth remained at 7%.
Real estate sales (38% of consolidated revenue) recovered, posting 9% growth, in the second quarter to Php6.89 billion from the Php6.34 billion posted a year ago, as compared with the 17% decline recorded in the previous quarter. In the first six months, real estate sales decline by 4% to Php11.90 billion. The second quarter growth was attributed to more projects that were almost completed in the period under review, particularly the Grace and Breeze Residences. SM Prime expects the housing unit group to sustain its growth for the rest of the year as more projects reach completion while new housing projects are lined-up for launch over the next 12 months.
Cinema ticket sales increased by 11% to Php1.29 billion in the second quarter from Php1.16 billion in 2013. In the first half, cinema ticket sales grew by 23% to Php2.35 billion. The increase was due to the opening of digital cinemas at the new malls and the showing of blockbuster movies.
Amusement and other revenues likewise increased by 24% to Php791 million in the second quarter of 2014 from Php638 million in 2013. The increase was mainly due to the strong patronage of amusement rides and additional recreational facilities provided by management in various malls. The revenue in the first half 2014 of this unit reached Php1.50 billion, up by 27% from a year ago.
SM Prime’s consolidated operating expenses, excluding real estate related costs, increased by 12% to Php6.62 billion in the second quarter 2014 compared with last year’s Php5.89 billion. In the first six months, consolidated operating expenses rose by 13% to Php12.51 billion. Bulk of the increase came from depreciation expenses attributed to new malls added in the past 12
months. Film rentals were also higher as it corresponded to the growth in cinema ticket sales.
Consolidated costs of real estate were at Php3.82 billion in the second quarter 2014, almost flat from last year’s figure of Php3.83 billion. This was attributed to efficient management and the reigning-in of construction costs. In the first six months, consolidated costs of real estate posted a 10% decline to Php6.75 billion. The decline in costs and recovery in revenues resulted to gross margin enhancement of 43% in the first half of 2014 from only 39% in the same period last year.
SM Prime is an integrated property development company that acts as a catalyst for economic growth, committed to deliver innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. It is the country’s largest property firm and one of Southeast Asia’s largest real estate companies with interests in malls, residences, commercial buildings, hotels and convention centers and leisure resorts.
For further information, please contact:
Vice President, Investor Relations
SM Prime Holdings, Inc.
Tel. no.: +632 862 7940
Casper expands virtual food hall model with Franklin Junction’s Host Kitchen® technology
GHENT, 14-Mar-2023 — /EuropaWire/ — Franklin Junction partners with Casper, a modern day food hall offering 100% virtual orders for takeout and delivery, to expand iconic American restaurant brands to Benelux and France. Franklin Junction founder, Rishi Nigam, and Casper founder, Matthias Laga, presented their expansion plans at the recent International Ghost Kitchen Conference in Amsterdam, Netherlands.
Franklin Junction has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023 as they continue to deliver innovative technology solutions for restaurants in the US and now abroad. Leading the way with their proprietary Host Kitchen® model, Franklin Junction has grown into a full suite of solution services to empower restaurant success in the digital age. In 2022, Franklin Junction introduced its AI-powered digital food hall that allows consumers to order food and earn loyalty from multiple concepts in a single transaction and delivery.
“As industry leaders driving the growth of American restaurant brands in new markets, we have received a tremendous amount of interest to expand to the European market for a few years now,” shares Franklin Junction CEO Rishi Nigam. “After getting to know Matthias and the entire Casper team over the past year, we have full confidence that they are a trusted partner to expand globally with and we’re thrilled to bring iconic American fare to new diners across Europe.”
Casper launched in Ghent, Belgium and raised €5 million for their Series A in 2022 with the objective of creating a hybrid restaurant and food hall model where customers can walk-in to place orders for takeout or order through digital channels for delivery. In just a short time, Casper has expanded to over 10 locations in Belgium, the Netherlands, and France, with an expansion goal of 50 kitchens by 2024.
“We’re very excited to partner with Franklin Junction and begin by introducing Nathan’s Famous’ authentic New York flavors to our European customers in the coming weeks,” states Matthias Laga, Co-founder and CEO of Casper. “Franklin Junction uniquely understands restaurants, multi-concept food halls, and restaurant eCommerce and their proprietary processes are extremely virtuous for all stakeholders.”
coop & spree launches a retail, business, and sports podcast called coop convos
The Retailer will interview CEOs, influencers, and professional athletes on a weekly basis
New York, New York, USA, 2022-Dec-23 — /EPR Network/ — coop & spree, the New York City based contemporary retailer, has launched a podcast called coop convos, which is all things business, retail, sports and wellness. Coop convos is hosted by coop & spree CEO and founder, Brooke S. Richman, who will interview various business leaders, tastemakers, and influencers in their aforementioned industries. Since Richman is an avid New York Knicks Fan (the Spree in coop & spree comes from her childhood pup’s name which paid homage to former Knick, Latrell Sprewell), she’s even interviewed and secured some former NBA stars.
The Podcast is available on over 10 platforms, and the first episode will likely air February 1st, 202 depending on the rifting process. To date, Richman has secured over 35 prestigious guests and has already recorded episodes with Stephanie Gottlieb, founder of Stephanie Gottlieb Fine Jewelry, Dale Stabler, wellness entrepreneur and co-founder of Sweats + The City, co-founder of the Orro + Theheard apps, and Allan Houston, the 2x NBA All-Star for the New York Knicks, Olympic Gold Medalist, and founder of FISLL,
Notable confirmed guests include Emily Faith Strauss, founder and designer of EF Collection, Helen Hall-Leland, CEO of Blender Bombs and Hustle Smoothie Bar, Alexa Leigh Meyer Mufson, founder and designer of Alexa Leigh, and John Wallace, former NBA star, current investor, philanthropist and New York Knick radio host.
During the start of the pandemic in March 2020, Richman moved temporarily from her NYC apartment to her childhood home in Greenwich, CT, where she learned how to code and created her e-comm website, coopandspreevip.com. Since her Elizabeth Street store in NYC was closed due to the pandemic, she had all her vendors ship her orders to her CT home where she fulfilled them. When she wasn’t opening new merchandise or packaging her clients’ orders, she would use Instagram live as a way to engage with her coop & spree audience, since she no longer could interact with them in person. She decided to start interviewing different designers and influencers, many of whom she knew and many of whom she had never met, and she absolutely loved it. So did her audience. It turned into a weekly tradition and the rest, as they say, is history. Not only did these weekly IG TV “interviews” create much needed connection at a time of unprecedented isolation, but also, they provided Richman, and coop & spree, with a new way of engaging with both customers and vendors.
Coop convos has the same format as Richman’s IG lives, where Richman focuses on each guest’s career path and personal story, in a relaxed format, that seems less like an interview and more like two old friends catching up. While the Podcast’s main goal is to provide valuable and informative insights and resources to those specifically interested in entrepreneurship, retail, sports, and wellness, Richman promises it’s also filled with lighthearted banter and just the right number of laughs.
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ABOUT COOP & SPREE
coop & spree, the brainchild of founder and CEO Brooke S. Richman, first opened in August 2014 in downtown New York City’s Nolita neighborhood as a multi-brand contemporary women’s apparel, accessory, and jewelry boutique. While it was solely brick-and-mortar by design when it opened, coop & spree had to pivot during the COVID-19 pandemic and is now a full-fledged omni-channel retailer with over 70 brands. It operates both a physical store in New York City’s NoHoc neighborhood, via appointment only, and has an e-commerce shopping site. In addition to selling women’s contemporary apparel, accessories, and jewelry, coop & spree has expanded its product offering to include an extensive assortment of children’s apparel and accessories, health and wellness products, paper goods, novelty items and more. coop & spree was just listed this month as a winner on the Inc. Magazine’s Best of Business 2022 list in the “Lean and Mean” category due to its unwavering commitment to philanthropy, specifically to NYC based non-profits which help underprivileged youths in NYC. It’s been featured in publications such as Women’s Wear Daily, The New York Times, US Weekly, Huffington Post, Business Insider and more.
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ContactPigeon expands in Cyprus and sponsors the 14th e-Commerce Conference
NICOSIA, Cyprus, 2022-Sep-28 — /EPR Network/ — ContactPigeon, one of the leading omnichannel customer engagement platforms for retailers in Europe and the USA, expands its operations in Cyprus. By building up a special team of professionals that will be based in the neighboring country, ContactPigeon will be providing its customer engagement services to its cross-industry clients that are operating there. With this expansion, the Greek startup aims to consolidate its reach to the thriving Cyprus market.
Furthermore, ContactPigeon becomes an official sponsor for the 14th e-Commerce Conference that took place in Nicosia, Cyprus on the 20th of September 2022.
The E-Commerce Conference by IMH is a benchmark for the e-commerce industry in Cyprus. With industry experts as keynote speakers and leading businesses as sponsors and participants, the conference presents the upcoming, international trends in the e-commerce sector as well as case studies that provide attendees with valuable knowledge and insights. The 14th E-Commerce Conference is addressed to entrepreneurs, Commercial Managers, Marketing & Communication and advertising professionals, Digital Managers, and also those who are interested to start operating in the e-Commerce sector.
This year, the participants had the opportunity to meet with ContactPigeon members at its booth and learn about the company’s activities and the benefits of its omnichannel customer engagement platform.
ContactPigeon empowers marketing leaders and business owners with the only omnichannel customer engagement platform built for retailers. The platform is designed to deliver perfectly timed and personalized messages for each customer, regardless of whether the point of contact is offline or online. The company has been awarded numerous industry awards and distinctions since 2015 and is also a member of the Pledge 1% corporate philanthropy movement. Its client base consists of hundreds of retailers in Europe and the USA such as Fujitsu, Tommy Hilfiger, GAP, and L’OREAL.
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