Belle records P93M profit

    344

    Belle Corp. posted a profit of P93 million in the first nine months of the year, down 96 percent from last year’s P2.56 billion.

    “Excluding extraordinary and non-recurring items, Belle’s consolidated recurring net income of P680 million for the 2020 period was 75 percent lower than the comparable figure of P2.67 billion for the 2019 period,” the company said.

    Revenues fell by 50 percent to P2.91 billion from P5.77 billion a year ago.

    It attributed the decrease in revenues and profits to coronavirus pandemic related developments.

    Belle reported its share in the gaming revenues at City of Dreams Manila declined 86 percent to P325 million from P2.38 billion.

    Pacific Online Systems Corp., which is 50.1 percent-owned by Belle’s subsidiary Premium Leisure Corp., posted a 71 percent decrease in revenues, from P766 million for the first nine months of 2019 to P221 million in the same period in 2020.

    The company’s real estate operations, meanwhile, posted revenues of P2.37 billion, down 10 percent from P2.63 billion in 2019.