Waterfront Philippines, Incorporated Reports Earnings Results for the First Quarter Ended March 31, 2022
May 17, 2022 at 03:13 pm IST
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Waterfront Philippines, Incorporated reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was PHP 273.76 million compared to PHP 181.8 million a year ago. Revenue was PHP 285.91 million compared to PHP 225.11 million a year ago. Net income was PHP 56.2 million compared to PHP 15.3 million a year ago. Basic earnings per share from continuing operations was PHP 0.022 compared to PHP 0.006 a year ago. Diluted earnings per share from continuing operations was PHP 0.022 compared to PHP 0.006 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.