Waterfront Philippines, Incorporated Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 13, 2018 at 08:25 pm
Share
Waterfront Philippines, Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported operating revenue of PHP 477,452,321 compared to PHP 445,561,196 a year ago. Net income before tax was PHP 108,122,320 compared to PHP 100,284,234 a year ago. Net income attributable to parent equity holders was PHP 113,399,313 or PHP 0.045 per basic and diluted share compared to PHP 82,191,813 or PHP 0.033 per basic and diluted share a year ago. Net income after tax was PHP 108,122,320 compared to PHP 100,284,234 a year ago.
For the six months, the company reported operating revenue of PHP 986,479,310 compared to PHP 994,086,508 a year ago. Net income before tax was PHP 207,693,569 compared to PHP 256,543,292 a year ago. Net income attributable to parent equity holders was PHP 232,822,105 or PHP 0.093 per basic and diluted share compared to PHP 238,450,871 or PHP 0.095 per basic and diluted share a year ago. Book value per share was PHP 2.16 as at June 30, 2018. Net income after tax was PHP 207,693,569 compared to PHP 256,543,292 a year ago. Net cash used in operating activities was PHP 1,588,608,272 compared to net cash from operating activities PHP 238,053,515 a year ago. Acquisition of property and equipment was PHP 2,065,662 compared to PHP 895,359,354 a year ago. Return on assets was 0.02% compared to 0.03% a year ago. Return on equity was 0.03% compared to 0.04% a year ago.
Waterfront Philippines, Incorporated is a Philippines-based investment holding company for hotel, leisure and tourism businesses. The Company operates a Filipino-owned hotel chain. The Companyâs hotels include Waterfront Cebu City Hotel & Casino, Waterfront Airport Hotel & Casino, Waterfront Insular Hotel Davao, and Waterfront Manila Hotel & Casino. Waterfront Cebu City Hotel & Casino has approximately 561 guestrooms and suites, nine dining outlets, and meeting and conference facilities. Waterfront Airport Hotel & Casino is located in front of the Mactan Cebu International Domestic Airport. The hotel consists of approximately 164 guestrooms and suites, four dining outlets and function rooms. Its wholly owned subsidiaries are Waterfront Cebu City Casino Hotel, Inc. (WCCCHI), Waterfront Mactan Casino Hotel, Inc. (WMCHI), Waterfront Insular Hotel Davao, Inc., ACESITE (Phils.) Hotel Corporation, Waterfront Hotel Management Corporation, Mayo Bonanza, Inc. and others.