Waterfront Philippines, Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 16, 2022 at 01:28 am
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Waterfront Philippines, Incorporated reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was PHP 339.67 million compared to PHP 189.51 million a year ago. Revenue was PHP 353.77 million compared to PHP 208.15 million a year ago. Net income was PHP 103.87 million compared to net loss of PHP 25.4 million a year ago. Basic earnings per share from continuing operations was PHP 0.042 compared to basic loss per share from continuing operations of PHP 0.01 a year ago.
For the six months, sales was PHP 613.44 million compared to PHP 371.31 million a year ago. Revenue was PHP 639.67 million compared to PHP 452.22 million a year ago. Net income was PHP 148.42 million compared to net loss of PHP 26.93 million a year ago. Basic earnings per share from continuing operations was PHP 0.059 compared to basic loss per share from continuing operations of PHP 0.011 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.