Roxas Holdings Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended June 30, 2016. For the quarter, the company's net income sharply fell 96% to PHP 8.526 million compared to PHP 191.796 million in the same period last year. Revenues, likewise, slid by 18% to PHP 2.6 billion from PHP 3.1 billion during the same period last year. Loss before income tax was PHP 53,970,000 compared to income before income taxes of PHP 231,184,000 for the same period a year ago. Net income attributable to equity holders of the parent company was PHP 8,676,000 or PHP 0.01 per basic and diluted share compared to PHP 191,112,000 or PHP 0.15 per basic and diluted share for the same period a year ago.

For the nine months, the company's despite higher revenues during the nine-month period this year, the company's net income dropped by 77% to PHP 75.1 million from PHP 329.26 million during the same period last year, due to earlier maintenance activities that were conducted during the period. Revenue was PHP 10,456,220,000 compared to PHP 6,581,696,000 for the same period a year ago. Income before income tax was PHP 18,549,000 compared to PHP 375,846,000 for the same period a year ago. Net income attributable to equity holders of the parent company was PHP 75,791,000 or PHP 0.06 per basic and diluted share compared to PHP 328,576,000 or PHP 0.28 per basic and diluted share for the same period a year ago. Net cash used in operating activities was PHP 312,483,000 compared to PHP 591,148,000 for the same period a year ago. Additions to property, plant and equipment was PHP 682,467,000 compared to PHP 614,941,000 for the same period a year ago. EBITDA was PHP 994 million, PHP 162 million lower than PHP 1,156 million reported in the same period in 2015. Book value per share was PHP 6.7.

The company provided earnings guidance for the year 2016. For the current crop year, the company allocated about PHP 1.4 billion in capital expenditures for the company's four plants. The company is looking at achieving a consolidated net income of about PHP 100 million for Crop Year 2015-2016.