Construction and engineering company Megawide Construction Corp. expects net income to rise 13 percent in 2017 to P2.16 billion from P1.92 billion in 2016, led by construction and airport businesses.
Megawide said in presentation materials during a recent analysts briefing that revenues this year were estimated to reach P18.68 billion, up by 6 percent from P17.65 billion last year.
Megawide said construction revenues were projected to rise 5 percent this year to P16.5 billion.
Sales of the airport business were targeted to increase12 percent to P2.1 billion. Megawide and partner GMR Infrastructure of India took over the operations of Mactan Cebu International Airport in November 2014.
Megawide said as of end-2016, order book stood at P38.5 billion after it secured P12.7 billion of new contracts. At least 65 percent of the company’s order book came from residential projects while the remaining 35 percent covered office, commercial developments and infrastructure projects.
The company is also interested in infrastructure projects that the government may bid out, including the unbundled airport projects, the Ninoy Aquino International Airport project and a prison facility project.
It also has an unsolicited bid to develop Clark International Airport.