Corporate

DMCI Holdings, a diversified engineering conglomerate, said Tuesday second-quarter net income dropped 32 percent to P5.5 billion due largely to weaker performance of its integrated energy, real estate, and nickel mining subsidiaries, despite some improvement posted by its water, off-grid power, and construction units.

Shopping mall operator SM Prime Holdings Inc. on Monday reported first-half consolidated net income this year of P22.1 billion or 13 percent higher than only P19.4 billion last year.

Metro Global Holdings Corp. (MGH), a subsidiary of Fil-Estate Management Inc., has executed a share transfer deal with Smart Share Investments Ltd., a Hong Kong-based investor, as part of a partial settlement for loans made to FEMI.

Axelum Resources Corp., a leading fully-integrated manufacturer and exporter of premium coconut products, said Monday it booked a net profit of P208.2 million in the first half, a sharp reversal from the P126 million net loss in the year-earlier period, on the back of strong revenue growth and tighter control on expenses.

Universal Robina Corp., the food manufacturing arm of the Gokongwei Group, said Friday it has decided to exit the Chinese market, stopping its manufacturing and sale of its cereals and snacks brands in China. Full closure is expected by 2025.URC said the move is part of its broader strategy to redeploy resources to higher-growth markets across the region.