Close  
  • share this

Belle nets P3.5B

/ 09:34 AM March 02, 2018

City of Dreams Manila AP PHOTO/BULLIT MARQUEZ

Leisure estate and gaming group Belle Corp. grew its net profit last year by 13 percent to P3.5 billion, the highest in its history, on strong earnings from its gaming and real estate businesses.

Excluding capital gains on sales of non-core investments and extraordinary items, Belle’s recurring net income of P3.3 billion for 2017 was 58 percent higher than the core profit in the previous year.

ADVERTISEMENT

Consolidated revenues of P8 billion last year were up by 27 percent.

This record performance was attributed primarily to growth in gaming revenues. Through its subsidiary Premium Leisure Corp. (PLC), Belle reported a 59-percent increase in its share of gaming earnings from integrated gaming resort City of Dreams Manila, rising to P2.6 billion from P1.6 billion a year earlier.

FEATURED STORIES

Belle’s real estate business also contributed to its banner year with P3.1 billion in revenues, up 10 percent from P2.8 billion in 2016. Of this, P2.3 billion came from Belle’s lease to Melco Resorts and Entertainment (Philippines) Corp. (Melco) of the land and buildings comprising City of Dreams Manila, while P823 million was from real estate sales and property management activities at its Tagaytay Highlands and Tagaytay Midlands residential and leisure complexes.

The strong 2017 results enabled Belle to declare a regular dividend of 12 centavos per share on February 23 February for a total dividend payment of around P1.3 billion, payable ‪on March 23, 2018‬ to shareholders of record as of ‪March 9, 2018‬.

Read Next
LATEST STORIES
MOST READ
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: BEL, Belle Corp., City of Dreams Manila
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2019 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.