Bloomberry pares down losses
Bloomberry Resorts Corp. posted P781 million in losses in the first quarter of the year, a reversal from a P1.4-billion profit last year.
The figure is, however, 68 percent lower than the P2.5 billion-net loss reported in the previous quarter.
Revenues reached P5.5 billion, down 41 percent from P9.4 billion last year.
Bloomberry said earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to P1.4 billion, down 59 percent from P3.5 billion last year.
Despite the challenges, the company generated solid results in the first three months of 2021 with gaming revenues, EBITDA and the bottom line improving from the previous quarter.
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AGI revenues fall 28%
Alliance Global Group Inc. recorded a 62 percent decline in profit in the first quarter tp P10.3 billion from the prior year’s P27.1 billion.
Revenues amounted to P129 billion, down 28 percent from P180 billion.
However, double-digit recovery was achieved by core businesses in the fourth quarter as the government eased quarantine restrictions toward the long holiday season, the company said.
“Liquor sales of Emperador grew 42 percent during the fourth quarter compared to the previous quarter; sales of McDonald’s Philippines also jumped 36 percent quarter-on-quarter; gaming revenues of Resorts World Manila also grew 33 percent; and real estate sales of Megaworld were up 22 percent in the last quarter compared to the third quarter.
Kevin Tan, Alliance Global chief executive officer, said two of AGI’s biggest companies — Emperador and Megaworld— benefitted strongly from diversification strategies last year, designed to solidify revenue and earnings base.
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Vista Land nets P2B
Vista Land & Lifescapes Inc. recorded profit of P2.1 billion in the first quarter, down 14 percent from the prior year’s P2.44 billion.
Earnings before interest, taxes, depreciation and amortization was at approximately P3.9 billion or about 7 percent decrease year- on- year
The company closed the period with revenues of P8.7 billion, down 12 percent from P9.89 billion last year. Real estate revenues stood at P6.3 billion, down 13 percent, and leasing income was estimated at P2 billion, down 9 percent.
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FirstGen powers QC mall
First Gen Corp. has partnered with the Araneta Group for the supply of 2.1 megawatts (MW) of power from a renewable source to Ali Mall in Quezon City.
The agreement by subsidiary Bacman Geothermal with the Araneta Group which will last until 2023 involves the supply of energy from its 132-MW Pantabangan-Masiway hydroelectric power plant in Nueva Ecija.
The Araneta Group has tapped other renewable energy solutions in business process outsourcing buildings and applied for Green Building certification for development projects, among others.
