Waterfront Philippines, Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 11:20 am IST
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Waterfront Philippines, Incorporated reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 427.15 million compared to PHP 702.75 million a year ago. Net income was PHP 38.94 million compared to PHP 144.03 million a year ago. Basic earnings per share from continuing operations was PHP 0.016 compared to PHP 0.058 a year ago.
For the nine months, sales was PHP 1,264.5 million compared to PHP 976.51 million a year ago. Revenue was PHP 1,304.23 million compared to PHP 1,018.52 million a year ago. Net income was PHP 123.44 million compared to PHP 188.57 million a year ago. Basic earnings per share from continuing operations was PHP 0.049 compared to PHP 0.075 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.