Waterfront Philippines, Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 15, 2022 at 06:03 am IST
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Waterfront Philippines, Incorporated reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was PHP 702.75 million compared to PHP 242.95 million a year ago. Revenue was PHP 732.62 million compared to PHP 261.92 million a year ago. Net income was PHP 144.03 million compared to PHP 41.87 million a year ago. Basic earnings per share from continuing operations was PHP 0.058 compared to PHP 0.017 a year ago.
For the nine months, sales was PHP 976.51 million compared to PHP 614.25 million a year ago. Revenue was PHP 1,018.52 million compared to PHP 714.14 million a year ago. Net income was PHP 188.57 million compared to PHP 14.94 million a year ago. Basic earnings per share from continuing operations was PHP 0.075 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.