PH Resorts losses widen to P175.6 million in H1

Dennis Uy’s listed hospitality and gaming company PH Resorts Group Holdings Inc. continue to report losses, battered by the negative impact of the global health pandemic......»»

Category: financeSource: philstar philstarAug 22nd, 2021

MRT-3, LRT-2 incur losses

Revenue losses of the Metro Rail Transit 3 and Light Rail Transit Line 2 after more than two months of closure due to the community quarantine have reached over P500 million, and these are expected to widen as operations resume way below their original capacities......»»

Category: financeSource:  philstarRelated NewsJun 7th, 2020

Philippine Resorts raises P600 million from top-up placement

Dennis Uy’s PH Resorts Group Holdings Inc. raised approximately P600 million from a top-up placement, proceeds of which will be used to fund its casino project......»»

Category: financeSource:  philstarRelated NewsAug 21st, 2021

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

DPWH is set to widen Canomantag Bridge in Barugo town

With a contract amount of P48.1 million, the widened bridge will have a total length of 60.45 linear meter and total width of 16.76 meter constructed with reinforced concrete pile foundation......»»

Category: newsSource:  samarnewsRelated NewsAug 6th, 2021

Bulacan agri damage over P150M

MALOLOS CITY — The Provincial Disaster Risk Reduction and Management Office (PDRRMO) in Bulacan disclosed that more than P155 million worth of infrastructure and crops in the province were destroyed after more than two weeks of southwest monsoon rains enhanced by typhoon “Fabian.” The PDRRMO said that agriculture had about P90.14 million in losses while […] The post Bulacan agri damage over P150M appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsAug 1st, 2021

Lepanto losses narrow in Q1

Listed Lepanto Consolidated Mining Co. narrowed its net loss in the first quarter to P63.2 million from P214.4 million in the same period in 2020 due to lower costs and expenses......»»

Category: financeSource:  philstarRelated NewsJun 9th, 2021

SMC banking arm nets P147 million in Q1

The banking arm of food-to-infrastructure conglomerate San Miguel Corp. booked a net income of P146.91 million in the first quarter, reversing the P122.94 million net loss in the same period last year, on lower provision for credit and impairment losses......»»

Category: financeSource:  philstarRelated NewsMay 27th, 2021

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:  philstarRelated NewsMay 15th, 2021

Bloomberry swung to P771-m net loss in the first quarter

Gaming company Bloomberry Resorts Corp. said Monday it posted a net loss of P771 million in the first quarter, a reversal of the P1.37-billion net income it booked in the same period last year as business operations remained limited because of the pandemic......»»

Category: financeSource:  thestandardRelated NewsMay 11th, 2021

... as Gokongwei airline posts bigger loss in Q1

Gokongwei-owned Cebu Pacific saw losses widen in the first quarter as flight restrictions continued to dampen revenues......»»

Category: financeSource:  philstarRelated NewsMay 10th, 2021

Bloomberry incurs P780 million loss in Q1

Bloomberry Resorts Corp., the listed casino operator of tycoon Enrique Razon, reported a net loss of P780.8 million in the first quarter, a reversal of the P1.4 billion net profit recorded a year ago......»»

Category: financeSource:  philstarRelated NewsMay 10th, 2021

Economy / companies. Ferrovial cuts its losses to 86 million euros through March

Madrid, 6 (Europe Press) Ferrovial posted net losses of € 86 million in the first quarter of the year, a decrease of 29% compared to.....»»

Category: sportsSource:  abscbnRelated NewsMay 6th, 2021

Taljo entered losses in 2020 due to the epidemic | Economie

Talgo ended 2020 with losses of € 17.4 million, compared to the 38.4 million gain recorded a year earlier, mainly due to the temporary impact.....»»

Category: newsSource:  thedailyguardianRelated NewsFeb 27th, 2021

Robinsons Bank earnings jump 70% in 9 months

The earnings of Gokongwei-led Robinsons Bank Corp. jumped by 70 percent to P786.22 billion from January to September compared to P461.28 million in the same period last year despite a surge in provision for potential loan losses due to uncertainties brought about by the pandemic......»»

Category: financeSource:  philstarRelated NewsNov 22nd, 2020

BOI approves Cebu hotel project

SureStay Plus Hotel, one of the globally-recognized and fastest growing Best Western® Hotels and Resorts brands, is investing P45 million to expand its location to Cebu City. The Board of Investments has already approved the registration of the hotel project entitling it to a package of tax and fiscal incentives. ........»»

Category: sportsSource:  abscbnRelated NewsNov 20th, 2020

PSBank earnings plunge 95% in Q3

The earnings of Philippine Savings Bank plunged 95.5 percent to P36.77 million in the third quarter of the year from P813.03 million in the same quarter last year as provision for potential loan losses almost quadrupled due to uncertainties brought about by the global health pandemic......»»

Category: financeSource:  philstarRelated NewsNov 15th, 2020

JG Summit posts P844-M profit in Q3

Listed JG Summit Holdings Inc. reported on Friday that its net income reached P844 million in the third quarter, reversing its P720-million loss in the first half of the year. In a filing, the Gokongwei-led conglomerate credited the turnaround to the improved contributions of its petrochemicals and real estate segments, reduced losses of its airline […].....»»

Category: newsSource:  manilatimes_netRelated NewsNov 14th, 2020

Shell widens losses to P13.9-B in 9 months; P1B investment set for import facility

With additional valuation-anchored inventory losses and one-off charges booked, the net loss of listed firm Pilipinas Shell Petroleum Corporation (PSPC) had widened to P13.9 billion in nine months this year. That’s a complete reversal of the P4.4 billion net income it posted last year, when oil prices were at more predictable state and there had been no pandemic-induced uncertainties disrupting oil markets. It specified that if the P5.7 billion inventory valuation losses had not turned up, the company’s net loss in the third quarter should have been at leaner P700 million versus P900 million in the second quarter. And without the one-off charges that stood at P7.5 billion, the oil firm’s net loss should have been trimmed to P6.4 billion within the January-September stretch. The one-off charges came about because of the closure of its refining operations that subsequently prompted the conversion of its Tabangao facility into a world-class import terminal. But while the company works on improving its financial performance in the coming months, Pilipinas Shell President and CEO Cesar G. Romero announced that they will be re-investing roughly P1.0 billion in the next few years “to fully transform Tabangao into a world class facility that will support its marketing growth aspirations.” Part of the company’s major step this year is to set on stream the commercial operations of its 54-million liter capacity terminal in Subic to underpin its supply chain, primarily to serve the demand of its Northern Luzon customers; while its Tabangao import facility will cater to the needs of customers in other parts of Luzon and Northern Visayas. To complete the loop, its Northern Mindanao Import Facility (NMIF) in Cagayan de Oro will be supporting the rest of Visayas and well as customers in Mindanao. Pilipinas Shell said it now “has a more resilient network of three medium-range import terminals with sufficient finished products capacity to effectively serve the demands of customers nationwide.” The firm indicated that despite the challenges, it prioritized business strategies that shall result in cash preservation for the company. As of third quarter’s end, the savings logged by the company stood at P2.5 billion; and this is seen sustained at the level of P2.0 billion until the end of this year. “Savings of P1.2 billion were generated from OPEX (operating expenses); with P1.3 billion from CAPEX (capital expenditure),” Shell emphasized. While the company still navigates the tough terrain of business induced by the coronavirus pandemic, Romero asserted their overall frame “remains optimistic,” as he noted that the “government’s efforts to gradually reopen the economy by prudently relaxing quarantine restrictions are slowly giving elbow room for the economy to recover.” He specified that for Shell, “the wins are coming in gradually as more businesses operate at increased capacity in the areas of manufacturing and transportation.” The company chief executive expounded “our balance sheet, technical capability and resources are solid; and serve as well in continuing to provide Filipinos with high quality fuel products despite the challenging environment.” Parallel to the firm’s aspirations for demand and financial rebound, Romero noted they are also making “the right sustainable decision to protect the long-term interests of our shareholders.” The company’s gearing had risen to 47-percent, and that was mainly attributed to “lower equity from net loss rather than an increase in net debt,” with it emphasizing that “excluding the impact of the refinery one-off charges, the company’s gearing stands at 41-percent.” Romero indicated “the pandemic has forced us to rethink the way we do things, while ensuring the quality of service that Filipinos expect from us.”.....»»

Category: newsSource: NewsNov 12th, 2020

MacroAsia losses reach P856.7 million

Lucio Tan’s MacroAsia Corp. continued to feel the impact of the pandemic as it incurred a net loss of P856.7 million in the nine months ending September, a reversal of the P932.7 million net income recorded in the same period last year......»»

Category: financeSource:  philstarRelated NewsNov 10th, 2020

NCIP flagged over lavish meals, hotel accommodations

The Commission on Audit has scolded the National Commission on Indigenous Peoples for spending P4.815 million on meals and accommodations at high-end restaurants, resorts and hotels......»»

Category: newsSource:  philstarRelated NewsNov 4th, 2020