Waterfront Philippines, Incorporated Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 29, 2020
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Waterfront Philippines, Incorporated announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was PHP 168.050 million compared to PHP 571.448 million a year ago. Net loss was PHP 8.461 million compared to PHP 20.485 million a year ago. Basic loss per share from continuing operations was PHP 0.003 compared to PHP 0.008 a year ago. For the nine months, total revenue was PHP 870.790 million compared to PHP 1,519.705 million a year ago. Net income was PHP 97.257 million compared to PHP 167.099 million a year ago. Basic earnings per share from continuing operations was PHP 0.039 compared to PHP 0.067 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.