Waterfront Philippines, Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 08:42 am
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Waterfront Philippines, Incorporated reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was PHP 504.8 million compared to PHP 339.67 million a year ago. Revenue was PHP 491.44 million compared to PHP 353.77 million a year ago. Net loss was PHP 15.11 million compared to net income of PHP 103.87 million a year ago. Basic loss per share from continuing operations was PHP 0.006 compared to basic earnings per share from continuing operations of PHP 0.042 a year ago.
For the six months, sales was PHP 837.34 million compared to PHP 613.44 million a year ago. Revenue was PHP 862.49 million compared to PHP 639.67 million a year ago. Net income was PHP 84.5 million compared to PHP 148.42 million a year ago. Basic earnings per share from continuing operations was PHP 0.034 compared to PHP 0.059 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.