Belle profit up 11% in 6 months | Inquirer Business
Sunday, August 19, 2018
Close  
  • share this

Belle profit up 11% in 6 months

/ 05:15 AM July 30, 2018

Leisure estate and gaming firm Belle Corp. grew its net profit in the first six months by 11 percent year-on-year to P1.96 billion mostly on higher earnings from its stake in integrated gaming resort City of Dreams Manila.

Excluding capital gains from sale of noncore investments and extraordinary items, Belle’s recurring net income amounted to P2.08 billion for the six-month period, about 26 percent higher than the comparative recurring profit of P1.66 billion in 2017.

Belle earns mainly from its share of gaming revenues from City of Dreams Manila and from leasing the land and buildings comprising the integrated resort to the Philippine affiliate of Macau casino giant Melco Resorts and Entertainment Ltd. (Melco).

ADVERTISEMENT

Through its gaming investment holding unit, Premium Leisure Corp., cash flow as measured by earnings before interest, taxes, depreciation and amortization (Ebitda) from its income share in the gaming operations of City of Dreams Manila rose by 42 percent year-on-year to P1.34 billion in the first six months. —DORIS DUMLAO-ABADILLA

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Belle Corp., Business
For feedback, complaints, or inquiries, contact us.
lifestyle

Eight ‘Crazy Rich Asians’ moments we loved

August 20, 2018 12:35 AM

lifestyle

‘Crazy Rich Asians’ delivers joy

August 20, 2018 12:30 AM

entertainment

2 PPP directors slam CEB’s zero grade

August 20, 2018 12:06 AM

entertainment

Brillante film in San Sebastian

August 20, 2018 12:05 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.