Megawide Reports ₱321 Million Net Loss in Q3

Megawide reports a net loss of ₱321 million in the third quarter this year, with a net loss of ₱610 million for the period of January to September of 2020.

Edgar Saavedra, Megawide Chairman and CEO, said “Every day, economic activity resumes across the Philippines and this has a beneficial impact upon our ability to ramp up work across our project portfolio. We are confident this trajectory will continue as we are about the overall prospects for the Philippine economy at large as we build back from the pandemic,”

Construction revenue for Megawide has been improving quarter on quarter, as the company reported revenue of ₱1.07 billion in the second quarter and ₱2.55 billion in the third quarter.

Source: ABS-CBN