Waterfront Philippines, Incorporated Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 16, 2020 at 07:19 pm
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Waterfront Philippines, Incorporated announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was PHP 243.401 million compared to PHP 477.913 million a year ago. Net income was PHP 30.473 million compared to PHP 56.613 million a year ago. Basic earnings per share was PHP 0.012 compared to PHP 0.023 a year ago. For the half year, total revenue was PHP 702.739 million compared to PHP 948.256 million a year ago. Net income was PHP 105.718 million compared to PHP 187.585 million a year ago. Basic earnings per share was PHP 0.042 compared to PHP 0.075 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.