The construction and engineering giant ended the past year with a recurring profit of P269 million versus losses of P1.87 billion in 2022.
Revenues soared 26 percent to P1.6 billion.
The construction business drove performance with P18.1 billion in revenue, making up 97 percent of the total.
Megawide also cited its landport operations and the real estate portfolios, contributing P348 million and P149 million, respectively.
Megawide, along with partner GMR Infrastructure of India, earlier completed the P25 billion sale of the Mactan Cebu International Airport project to Aboitiz Equity Ventures Inc. It will fully exit the project in October this year.
Meanwhile, Saavedra said construction grew as it completed more projects in its existing pipeline.
One of the company’s promising growth segments was property development via PH1 World Developers Inc.
Megawide said take-up of ongoing and new projects reached P4.6 billion, equivalent to 916 units.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
