Manila Jockey Club, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2017
November 16, 2017 at 10:33 am IST
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Manila Jockey Club, Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2017. For the quarter, the company announced revenues were PHP 208,752,780 compared to PHP 148,220,329 for the same period a year ago. Loss before income tax was PHP 21,258,974 compared to PHP 8,990,567 for the same period a year ago. Net loss attributable to equity holders of the parent company was PHP 22,152,697 compared to PHP 9,851,587 for the same period a year ago. Basic and diluted loss per share was PHP 0.0222 compared to PHP 0.0099 for the same period a year ago. Book value per share was PHP 3.99. Net cash provided by operating activities was PHP 19,383,114 compared to net cash used in operating activities of PHP 29,846,960 for the same period a year ago. Acquisitions of property and equipment were PHP 7,772,671 compared to PHP 36,452,655 for the same period a year ago.
For the first nine months, the company announced revenues were PHP 511,882,648 compared to PHP 358,060,754 for the same period a year ago. Loss before income tax was PHP 106,799,218 compared to PHP 40,730,044 for the same period a year ago. Net loss attributable to equity holders of the parent company was PHP 112,802,931 compared to PHP 43,342,270 for the same period a year ago. Basic and diluted loss per share was PHP 0.1132 compared to PHP 0.0435 for the same period a year ago. Net cash provided by operating activities was PHP 19,159,686 compared to net cash used in operating activities of PHP 17,572,381 for the same period a year ago. Acquisitions of property and equipment were PHP 27,185,491 compared to PHP 54,470,056 for the same period a year ago.
Manila Jockey Club, Inc. is a Philippines-based company. The Company is engaged in the construction, operations and maintenance of a racetrack located in Cavite, Philippines and in the holding or conducting of horse races therein with betting both directly or indirectly by means of mechanical, electric and/or computerized totalizator. It conducts horse race betting operations, through more than 250 Off Track Betting (OTB) stations that are owned and franchised around the country, as well as from bets placed at its Turf Club. The Company is also engaged in the development and sale of condominium units and residential properties, and lease of an office building through joint venture (JV) arrangements with certain developers. It has various condominium and office towers at the San Lazaro Business and Tourism Park township in Santa Cruz, Manila, and from the suburban Canyon Ranch development located at the San Lazaro Leisure Park in Carmona, Cavite, in partnership with Century Properties.