MEGAWIDE Construction Corp., announced that their quarter losses were narrowed as their year-to-date earnings increased due to the positive income.

In a statement, Megawide said that the double-digit growth in its revenues increased greatly during such a period.

They said at a disclosure that their third-quarter attributable net loss stood at P29.852 million, which was an improvement of the P319.575-million attributable net loss in the same quarter last year.

On the other hand, their gross revenues for the quarter climbed to P4.505 billion from P3.456 billion, while its gross expense grew to P4.539 billion from P4.014 billion.

Meanwhile, the year-to-date attributable net income stood at P333.307 million, reversing the P445.251-million net loss recorded in the past year.

“Our growth trajectory remains intact, with our pursuit of big-ticket infrastructure projects, like the Malolos-Clark Railway Project and soon the Metro Manila Subway, and high-value commercial developments, such as the Westside City Resorts Complex, materializing,” Megawide president and chief executive officer Edgar Saavedra said.

“We are confident that over the long-term, this direction will unlock a strong and steady earnings momentum for the EPC (engineering, procurement, and construction) segment,” he added.