GERI earnings reach P300 million

Global-Estate Resorts Inc., the Andrew Tan-led developer of integrated tourism estates, posted a net income of P300 million in the first quarter, up 21 percent......»»

Category: financeSource: philstar philstarMay 15th, 2021

Cebu Pacific refunds reach P2.7 billion

Cebu Pacific said it has refunded an additional P300 million since September, bringing its total refunds to P2.7 billion to date......»»

Category: financeSource:  philstarRelated NewsNov 7th, 2020

GERI reports 37% profit fall, improving sales

Global-Estate Resorts, Inc. (GERI), Megaworld’s integrated tourism and leisure unit, reported lower earnings in the first half of the year although sales have started to recover in the second quarter. In a statement, GERI said that, excluding non-recurring gains, the company’s net income for the first half of the year reached P728 million, down 9 percent from P801 million during the same period last year. Attributable net income dropped 37 percent to P544.8 million in the first half of 2020 from P865.13 million in the same period last year. Consolidated revenues for the first half of 2020 registered at P2.9 billion, reflecting a 29 percent decline from P4.1 billion during the comparable period last year. On the other hand, rental income weakened by only 8 percent from P377 million last year to P347 million in the first half of 2020 even if mall operations were affected by the Taal eruption in the first quarter, and the strict quarantine measures in the second quarter. Hotel operations declined by 67 percent from P484 million last year to P162 million for the first six months of 2020 due to the quarantine restrictions during the period. However, the decline in revenues from the company’s core businesses was offset by the 30 percent reduction in costs and expenses, from P3.1 billion in the first half of 2019 to P2.2 billion this year. “Boracay was closed to tourists during the second quarter but as soon as the quarantine measures were relaxed in June, we saw a steep climb on the sales of our commercial and village lots in Boracay Newcoast. Buyers now prefer residential and leisure products in nature-rich settings outside of Metro Manila,” explained GERI President Monica T.Salomon. GERI’s reservation sales of residential projects during the second quarter of the year rose to P3.6 billion from P2.2 billion in the first quarter. The firm noted that the growth was achieved even as the country was placed on strict lockdown due to the coronavirus pandemic. It did not provide comparative figures for 2019. Residential projects in Boracay Newcoast in Aklan, Arden Botanical Estate in Cavite, Eastland Heights in Antipolo, Rizal,  and Hamptons Caliraya in Laguna comprised the bulk of sales during the first half of the year, which reached P5.8 billion. “When the news of a possible lockdown came out in mid-March, we had already braced for a conservative outlook for our residential segment,” said Salomon. She added that, “But, while the country was placed on strict quarantine, we saw aggressive take-ups of our provincial projects. In fact, on the average, our second quarter sales are 61 percent of what we have booked for the entire first half of 2020. And we still have enough inventory to address the demand for residential projects in these areas.”.....»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

GERI profit up 11% to P603 million

Global-Estate Resorts Inc., a developer of master-planned integrated tourism estates, reported a net income of P603 million in the first half, up 11 percent year on year......»»

Category: financeSource:  philstarRelated NewsAug 9th, 2021

Phoenix Petroleum swung to P132-m net earnings in Q2

Phoenix Petroleum Philippines said Monday it swung to a net income of P132 million in the second quarter from a P5-million net loss in the same period last year......»»

Category: financeSource:  thestandardRelated NewsAug 3rd, 2021

BBVA Group: Earnings for the first half of 2021 | Finance | Economie

Spanish group BBVA made a profit of 1,911 million euros at the end of the first half of the year, A figure that contrasts positively.....»»

Category: lifestyleSource:  abscbnRelated NewsJul 31st, 2021

1.5-M more Sinovac doses reach Philippines

The Philippines received Saturday 1.5 million more doses of Sinovac’s CoronaVac COVID-19 vaccine......»»

Category: newsSource:  philstarRelated NewsJul 17th, 2021

Incentive for Olympic gold may reach P50M

A Filipino athlete who will win a gold medal in the Summer Olympic Games in Tokyo, Japan could receive as much as P50 million in cash incentives......»»

Category: sportsSource:  thestandardRelated NewsJul 13th, 2021

50M jabs needed to remove face mask, shields& mdash;NTF adviser

The Philippines needs to reach a population of around 49 million to 50 million fully vaccinated against COVID-19 before the face masks and face shields could be ditched, a government adviser said Thursday......»»

Category: newsSource:  thestandardRelated NewsJul 9th, 2021

COVID-19 shots administered in Philippines to reach 10M by next week — official

The National Task Force Against COVID-19 on Friday said it is confident that it will reach an "important milestone" in its vaccine rollout, administering over 10 million jabs, before the month of June is out. .....»»

Category: newsSource:  philstarRelated NewsJun 25th, 2021

Total vaccine volume in PH to reach 18m end-June

UPDATED | The country's total volume of COVID-19 vaccine doses will hit 18 million by the end of June, Senator Christopher Go, chairman of the Senate health committee, said......»»

Category: newsSource:  thestandardRelated NewsJun 11th, 2021

AgriNurture earnings jump to P40 million

AgriNurture Inc. registered a 26.36 percent increase in its consolidated profit in the first quarter to P40.07 million, driven by higher sales in its foreign and local operations......»»

Category: financeSource:  philstarRelated NewsMay 28th, 2021

CPG earnings fall 30% to P204.6 million

Earnings of Century Properties Group fell 30 percent in the first quarter as sales and rentals thinned and construction activities slowed due to quarantine restrictions......»»

Category: financeSource:  philstarRelated NewsMay 18th, 2021

Mega Lotto pot seen to hit P146 million

The jackpot in the 6/45 Mega Lotto draw tonight is expected to reach P146 million after no one guessed the six-digit winning combination during last Friday’s draw......»»

Category: newsSource:  philstarRelated NewsMay 16th, 2021

AREIT earnings up 60% in Q1

Ayala Land’s real estate investment trust AREIT Inc. posted a net income of P403 million in the first quarter, 60 percent higher than last year......»»

Category: newsSource:  philstarRelated NewsMay 16th, 2021

DMCI Holdings income surges 7-fold to P4.3 billion

Diversified engineering conglomerate DMCI Holdings Inc. reported a 590-percent increase in first quarter earnings from P616 million to P4.3 billion as income drivers DMCI Homes and Semirara Mining and Power Corp. delivered exceptional performances during the period......»»

Category: financeSource:  philstarRelated NewsMay 16th, 2021

Saso seeks to regain form in Fukuoka

Struggling a bit as of late, Yuka Saso hopes to regain top form as she takes another shot at breaching the Y100-million mark in Japan LPGA money earnings in the No Mado Ladies Open which unfurls today in Fukuoka......»»

Category: sportsSource:  philstarRelated NewsMay 13th, 2021

Yuka Saso resumes Japan LPGA bid

Yuka Saso seeks to breach the Y100 million-mark in money earnings as she resumes her Japan LGPA campaign in the No Mado Ladies Open, a Y120-million event slated to unfurl Friday in Fukuoka......»»

Category: sportsSource:  philstarRelated NewsMay 13th, 2021

Conor McGregor tops 2020 sporting rich list: Forbes

Los Angeles, UNITED STATES — Mixed martial arts superstar Conor McGregor was the sporting world’s highest-paid athlete in 2020, raking in around $180 million with earnings boosted by commercial ventures, a Forbes report showed Wednesday. The 32-year-old Irishman only fought once in 2020, earning around $22 million from his victory over Donald Cerrone in January. […] The post Conor McGregor tops 2020 sporting rich list: Forbes appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMay 12th, 2021

Nat Re posts lower earnings last year

The National Reinsurance Corporation of the Philippines, the country’s national reinsurer, earned a lower net income of P120 million in 2020, as stronger underwriting results were weighed down by lower investment income......»»

Category: financeSource:  philstarRelated NewsMay 8th, 2021

Mega Lotto prize to hit P122.5 million

The Mega Lotto 6/45 jackpot is estimated to reach P122.5 million for tonight’s draw, the Philippine Charity Sweepstakes Office announced yesterday......»»

Category: newsSource:  philstarRelated NewsMay 2nd, 2021