Yahoo! Philippines News - Live 2013 Philippine Elections News Updates and Results: SM Development posts 2.7% drop in Q2 net on low sales, high expenses

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SM Development posts 2.7% drop in Q2 net on low sales, high expenses Jul 31st 2013, 03:00 SM Development Corp. (SMDC), the property development arm of the Sy group, recorded a net income of P1.46 billion in the second quarter of the year, almost unchanged but down 2.66 percent from P1.5 billion a year earlier, on discouraging real estate sales and higher expenses.

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