Stock News 2013: Bloomberry revenue hits P578M

HK Citywalk Food & Beverage Outlet 荃新天地 (Photo credit: Wikipedia)

Gaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenue in the first 15 days of Solaire Manila Resort & Casino’s operations.

But for the first quarter, Bloomberry incurred a net loss of P1.06 billion, 688.6 percent higher year-on-year, due to higher pre-operating expenses as well as operating expenses and cost of sales during the first 15 days of operation.

Bloomberry launched the first entertainment complex in Pagcor City last March 16.

In the first quarter, gaming was the biggest contributor to revenue, amounting to P495.6 million. Its hotel, food and beverage outlets contributed P57.1 million while retail revenue from the first 15 days of commercial operation reached P1 million.

Other income consisted mainly of lease rentals, communication and transportation services.

After the opening of the first phase of its entertainment complex, Solaire said it would soon ramp up its gaming business. A number of junket operators have signed up to bring in foreign VIP players while numerous promotional programs and strategic marketing activities are ready to be launched, Bloomberry said.

Since opening day, Solaire’s hotel and food beverage outlets have become go-to destinations, becoming the byword for upscale service, amenities and excellent food and beverage choices. Bloomberry also announced that Solaire had adjusted its prices “to address concerns about being too pricey.”

http://business.inquirer.net/122247/metro-pacific-joins-msci-philippines-index-replaces-smc

http://pinoyfiq.com

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Stock News 2012: Petron net profit slumps

Petron Corporation (Photo credit: Wikipedia)

Petron Corp., the country’s biggest oil refiner and retailer, registered an 88-percent drop in its consolidated net income to P932 million in the first nine months of 2012 from the P7.6 billion it posted in the same period last year.

The oil company explained that it continued to experience depressed margins because of the volatility in global oil markets in the second and third quarters of 2012. The Malaysian operation contributed only P155 million in consolidated net income for the January-to-September period, Petron said in a disclosure to the Philippine Stock Exchange on Monday.

In the third quarter alone, Petron posted a modest net income of P500 million, a turnaround from the P2.1-billion net loss it incurred for its consolidated operations in the second quarter this year.

In terms of revenue, however, Petron managed to post a 52-percent jump to P307.3 billion. Local fuel sales and exports grew by 4 percent to 35.6 million barrels, contributing P212.4 billion to the total revenue. The consolidation of Petron Malaysia beginning the second quarter likewise added 17.6 million barrels in volumes and revenues valued at P94.9 billion.

The increases in the volume of fuel products sold was attributed to Petron’s massive retail expansion program, which marked a milestone during the third quarter this year when the company’s service station network breached the 2,000 mark.

Overall, Petron said it has fortified its leadership position with 39 percent of the total market as of end-July this year.

In the case of its Malaysian operations, the company’s priority continued to be the rebranding of Esso and Mobil service stations into the Petron brand. The company aims to rebrand 550 service stations over the next few years. The new stations feature improved facilities and personalized services.

http://business.inquirer.net

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Stock News 2012: ALI earnings rise 27%

English: Venus Raj at "The GOOD Run" event in Bonifacio Global City, Taguig, Metro Manila, Philippines. (Photo credit: Wikipedia)

Property giant Ayala Land Inc. (ALI) maintained its robust earnings growth, recording close to a 30-percent uptick in January to September profits on the back of strong performance of all its business segments.

In a disclosure, to the stock exchange, ALI said its earnings in the nine-month period hit P6.62 billion, up 27 percent from P5.23 billion a year ago “on the back of the strong performance and margin improvement achieved by all of the company’s major business lines.”

Consolidated revenues jumped 20 percent to P39.01 billion from P32.63 billion last year.

Specifically, revenues from real estate and hotels, which accounted for the bulk of total revenues, climbed a fifth to P36.89 billion.

ALI said its net income margin also improved, rising to 20 percent from 18 percent year-on-year.

“We are midway into our 5-10-15 plan and we continue to progress very well, and this is reflected in our results over the first nine months of the year,” said ALI chief finance officer Jaime Ysmael.

“Average monthly sales take-up remains very robust and margin improvement is steady for all business lines,” Ysmael said.

ALI is in the thick of its so-called 5-10-15 plan, which targets P10 billion after-tax income and a return on equity of 15 percent in five years ending 2014.

Ysmael said the property firm has spent 94 percent its full-year programmed capital expenditures, with a number of projects still to be launched late this year.

ALI has earmarked P37 billion for its capital spending this year – its highest capital expenditures ever – mostly to go to residential projects, followed by shopping centers and hotels.

The property development segment, composed of the sale of residential units and industrial lots, grew its revenues 27 percent to P23.91 billion in the nine-month period from P18.8 billion a year ago.

Revenues from the residential segment reached P22.32 billion, up 27 percent from last year, driven by strong sales and continued construction of projects across all residential brands.

ALI said sales take-up in the nine-month period hit P57.85 billion, equivalent to an average monthly sales take-up of P6.43 billion, surging by half from P4.31 billion last year.

So far, ALI’s four residential brands launched a total of 13,057 units.

Revenues from the sale of commercial and industrial lots rose 26 percent to P1.59 billion in the nine-month period due to the sale commercial lots in Nuvali in Laguna and Bonifacio Global City in Taguig.

For commercial leasing, ALI said its revenues climbed19 percent to P6.34 billion from P5.33 billion recorded in same period last year.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=867832

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Stock News 2012: MPTC earnings up 37% to P549M in Q1

Aerial View of Balintawak Toll Barrier, NLEx (Photo credit: Wikipedia)
Metro Pacific Tollways Corp. said its first quarter net earnings went up 37 percent to P549 million, fueled by increased toll revenues, lower financing costs and reduced provisions for probable losses on input value-added tax.

In its financial report submitted to securities regulators, MPTC said net toll revenues rose four percent to P1.67 billion, mainly due to the record-high traffic volume in the first quarter this year. Despite the increase in fuel prices, traffic volume was maintained due to the continuous efforts to make the North Luzon Expressway (NLEX) a better and safer travel route than alternative free roads.

Sales of trasnponders and magnetic cards declined 85 percent due to the outsourcing of the supply, sales and marketing of tarnsponders to Easytrip Services Corp.    

Cost of services likewise went up four percent due to higher operator’s fees brought by the increase in parameters used in the escalation formula and increase in additional services rendered by Toll Management Corp. (TMC).

Operator’s fee increased nine percent to P375 million while repairs and maintenance decreased 36 percent to P21 million.

Equity in net earnings of affiliate TMC rose 21 percent to P52 million, driven by the increase in revenues from additional services rendered to Manila North Tollways Corp., Bases Conversion Development Authority and subcontractors.

MPTC earlier said it was eyeing revenues of more than P7 billion. MNTC holds the concession to operate and maintain NLEX and is owned 67.1 percent by MPTC.

TMC operates the NLEX for MNTC.

http://www.philstar.com/Article.aspx?articleId=808341&publicationSubCategoryId=66

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Stock News 2012: Globe's postpaid business sustains growth momentum in 1st qtr

The old Globe corporate logo. (Photo credit: Wikipedia)
Globe Telecom’s postpaid business sustained its growth momentum as it posted a 17 percent increase in service revenues to P748 million in the first quarter of the year, the company said in a statement.

Postpaid service revenues now accounts for 32 percent of Globe’s total mobile revenues, up from 29 percent compared to the same period last year, making it a key driver in the increase in service revenues for the period against the seasonally strong fourth quarter and has accelerated the overall growth of Globe’s mobile business.

Domestic voice calls, mobile browsing and international services are also higher year-on-year while direct mobile browsing revenues was at P669 million, up 33 percent year-on-year.

Globe said the robust take-up for postpaid plans was a result of the warm reception to the customizable plans that continue to attract new and old subscribers, alongside the success of the Apple iPhone 4S launch.   In fact, for the first quarter, subscriber acquisition costs were higher due to strong demand for iPhone 4S.

“Investments in postpaid subsidies which are fully-funded by rise in revenues, set up the business for sustained top-line growth in 2012. The growth in customer volumes and handset subsidies are also driving the increase in total marketing and subsidy. We now have an improved customer mix with 45 percent of postpaid net additions signing up for the mid-to high-end plans from only 16 percent last year,” Globe president and CEO Ernest Cu said.

Total mobile revenues increased six percent year-on-year from P15.6 billion to about P16.6 billion despite intense competition and continued price pressures. Globe Prepaid and TM delivered combined a two percent revenue growth, driven by new brand campaigns and a boost in service offerings.

Globe Postpaid ended the quarter with 1.5 million subscribers, up 34 percent year-on-year while the combined Globe Prepaid and TM subscriber base has reached 29.5 million, 13 percent higher than 2011. As of March 31, Globe has a total of 31 million mobile subscribers, up 14 percent from the same period last year.

Amid the strong performance of its mobile business, Globe still further pushed efforts for its prepaid and TM services in a bid to keep its loyal subscribers and draw new customers.

http://www.philstar.com/Article.aspx?articleId=807661&publicationSubCategoryId=66

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Stock News 2012: Vista Land's Q1 income up 22% to P1.06 billion

Villar-led homebuilder Vista Land & Lifescapes Inc. said its first quarter net income grew 22 percent this year to P1.06 billion, fueled by pent-up demand in the residential market.

In a briefing yesterday, Vista Land chief financial officer Ricardo B. Tan Jr. said sales activity remained brisk with the continued low interest rates and steady remittance inflows from Filipinos working overseas.

Revenues rose 23 percent to P4.02 billion as reservation sales surged 52 percent to P10.14 billion. Subsidiaries Camella and Communities Philippines, which develop residential communities for the low and affordable segment, accounted for a combined 67 percent of Vista Land’s total revenues.

“The company’s performance for the first quarter was slightly better than expected. We are off to a good start and are on track to achieve our full year targets for 2012, “ Tan said.

Tan earlier said the company was looking to end the year with a 20 percent growth in earnings and revenues to around P4.2 billion and P16 billion, respectively.

“The market has been pretty resilient. While competition has been intensifying from other players, we feel that we have the advantage over them. We know the market better than anyone else,” Tan said.

Manuel Paolo Villar, president and chief executive officer of Vista Land, said the company has not seen any negative effects from the problems besetting Europe as it continued to attract OFWs.

“Camella continues to dominate the housing market nationwide, and as we execute our strategy of aggressively expanding in the provinces, our position as the dominant player in housing will be solidified even further,” Villar added.

The company introduced nine major subdivision projects during the period under review worth around P5 billion, Tan said.

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Stock News 2012: ABS-CBN income falls 69% to P306 million in Q1

Logo for ABS–CBN Corporation (Photo credit: Wikipedia)
Multi-media conglomerate ABS-CBN Corp. said its net profit declined 69 percent in the first quarter this year to P306 million, from P976 million a year ago when it booked gains from the sale unit of Sky Cable’s Philippine Depositary Receipts (PDRs).

Stripping the one-time gain of P674 million in 2011, however, ABS-CBN’s net income would have been up one percent on a recurring basis, the company said.

Consolidated revenues rose eight percent to P7.1 billion, 59 percent of which or P4.2 billion came from advertising.

Advertising revenues across all platforms and subsidiaries went up four percent to P4.2 billion.

But earnings before interest, taxes, depreciation and amortization (EBITDA) fell 35 percent to P1.4 billion.

Consumer sales climbed 15 percent to almost P3 billion, largely driven by the 12 percent growth in Sky Cable’s revenues owing to the nine percent rise in postpaid service and 31 percent hike in broadband service revenues.

Revenues from its international unit, ABS-CBN Global, improved three percent on the back of a three percent rise in overall viewer count to around 2.5 million as of end-March this year. Double-digit growth in subscribers continued to be experienced in Canada, and singledigit growth in all other territories except Japan and Europe where subscribers declined.

ABS-CBN maintained its national audience share and ratings leadership with prime-time audience share averaging 42 percent during the period under review, with a 12 percentage point lead over main rival GMA’s, according to Kantar national TV ratings data.

Total operating and other expenses jumped by 27 percent to P6.1 billion. Production costs increased 10 percent to P2.5 billion

The company has earmarked around P5 billion for its capital expenditure program this year, majority of which or P2 billion will go to the continued expansion of the broadband business. Around P1.2 billion will be channeled to flagship station Channel 2.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=807032

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Stock News 2012: ALI profit up 31% to P2.13 billion

Property giant Ayala Land Inc. (ALI) sustained its strong momentum with its first quarter net earnings growing 31 percent to P2.13 billion on brisk sales and higher contributions from other segments of the market.

In a briefing yesterday, ALI chief financial officer Jaime Ysmael said consolidated revenues expanded 17 percent to P12.39 billion, bulk of which or P11.77 billion came from real estate sales and hotel operations.

 “Demand remains high. We have set a new record in terms of sales at P19.3 billion equivalent to an average monthly sales take-up of P6.44 billion. This was 49 percent higher than the record P4.31 billion average monthly sales take-up for the whole of 2011,” Ysmael said, noting the significant rise in sales of products catering to the high-end segment of the market.

Ysmael said the company is on track to meet its P10-billion income target by 2015, noting that it may even come sooner than expected due to the continued robust growth of its businesses.

He said cost-containment measures likewise contributed to the company’s strong performance.

Property development, which includes the sale of residential lots and units, as well as the sale of commercial and industrial lots, chalked in revenues of P7.51 billion, up 18 percent from P6.34 billion.

Revenues from the residential segment, on the other hand, rose 21 percent to P7.01 billion on the back of a 48 percent jump in the value of bookings across the group’s four residential brands (Ayala Land Premier, Alveo, Avida and Amaia).

The four brands rolled out a total of 2,693 units worth around P11.3 billion.

Sale of commercial and industrial lots, however, fell 11 percent to P499 million due to lower commercial lot sales in Nuvali compared to last year. Gross profit margins however improved to 56 percent from 50 percent with significant price increases in the Nuvali commercial lots.

Commercial leasing, which includes the company’s shopping center and office leasing operations, registered total revenues of P2.04 billion, 21 percent higher than the P1.68 billion recorded the previous level.

Revenues from shopping centers grew 27 percent to P1.39 billion while office leasing revenues went up 11 percent to P647 million.

http://www.philstar.com/Article.aspx?articleId=805348&publicationSubCategoryId=66

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Stock News 2012: Ayala's IMI more than doubles net profit in Q1

Ayala-led chipmaker Integrated Micro-Electronics Inc. (IMI) reported a 128 percent jump in its first quarter net income this year to $853,900 on the back of higher revenues and reduced operating expenses.

In a disclosure to the Philippine Stock Exchange yesterday, IMI said consolidated sales revenues climbed 24 percent to $152 million, largely due to its expansion in Europe and Mexico.

Revenues from its operations in Europe and Mexico amounted to $40.9 million.

"With our company’s implementation of a global geographic expansion, we have realized a diversity in markets and operations. A healthy mix of customers and programs has cushioned the effects on our financial performance of the global electronics industry slowdown,” said Arthur Tan, president and chief executive officer of IMI.

IMI’s operations in China and Singapore registered combined revenues of $61.7 million, five percent lower than the year before, largely due to a reduction in turnkey sales to a customer in the telecommunication infrastructure market.

Philippine operations, on the other hand, generated $38.2 million in revenues, up four percent on strong programs in the consumer and automotive segments.

PSi Technologies, Inc., a subsidiary of IMI, raked in $10.9 million in revenues.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=804638

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Stock News 2011: Globe strengthens leadership in postpaid

Image via Wikipedia
Globe Telecom further strengthened its leadership in the postpaid segment with double-digit growth in subscriber base and revenues from last year’s levels.

As of end-March 2011, the company’s wireless postpaid base has reached 1.44 million. Subscriber base for mobile telephony was at 1.15 million, up 30% year-on-year. Total wireless postpaid revenues stood at P3.63 billion, 10% higher than last year.

Being the first to launch a suite of customizable and personalized postpaid services in the country, Globe Postpaid is expected to show strong and continued growth over the coming months ahead, as well as widen its lead over competition.

“We are very happy that our strategies and offers are well received by our subscribers. We understand that our customers are unique from one another, so as their needs and means to connect with their friends and families,” said Martha Sazon, Head of Globe Postpaid.

Globe has the most diverse offerings for its postpaid subscribers, led by the most flexible and customizable postpaid plan in the market today, the All New My Super Plan. Following the same principle of product personalization and customization is My Super Surf Plan, the country’s first-ever range of fully-customizable unlimited data plans which provide subscribers with uninterrupted mobile surfing, consumable monthly fees, bonus call and text services and add-ons in a single subscription.

http://mb.com.ph/node/321593/globe-

Stock News 2011: RLC posts P3.6-B FY net income, up 10%

Image via Wikipedia
Robinsons Land Corporation (RLC), the property development arm of JG Summit Holdings, reported a 10 percent growth in net income for the fiscal year ending September 2010 to P3.59 billion.

In a disclosure to the Philippine Stock Exchange, RLC said net profit growth would have been higher at 13 percent if the P103 Million gain from interest rate swap transaction in 2009 was excluded.

RLC generated total gross revenues of P11.30 billion for fiscal year 2010, an increase of 5 percent from P10.73 billion of total gross revenues for fiscal year 2009. EBITDA amounted to P6.41 billion in 2010, up by 8 percent from 2009.

The firm said its Commercial Centers Division accounted for P5.74 billion of the real estate revenues for the year versus P4.21 billion in 2009.

The 36 percent increase was principally due to newly opened malls particularly Robinsons Place General Santos, Robinsons Ilocos Norte, Robinsons Place Dumaguete, and Cybergate Cebu.

http://www.mb.com.ph/node/299195/rlc-po

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International News 2010: Wendy's/Arby's: Add to Your Watch List

Image via WikipediaBOSTON (TheStreet) -- Restaurant company Wendy's/Arby's Group(WEN) gets no love from investors, but the company delivered solid quarterly numbers, exceeding analysts' earnings forecast by 25% and matching their sales estimates.
More on WENValue ETFs Rise Amid Market WeaknessCramer: It's Really, Really Ugly Out ThereNews You Need
Wendy's stock has fallen 25% from a 52-week high on April 26, but considering the volatility of stocks in recent weeks, Wendy's/Arby's Group appears to be a comparatively safe investment at its current price.
The company's second-quarter net income dropped 28% to $11 million, but earnings per share remained steady at 3 cents. The gross margin hovered at 25%, but the operating margin extended from 7.5% to 8.6%. Wendy's comparable store sales declined 1.7% while Arby's registered a drop of 7.4%. However, revenue fell just 3.9% to $877 million. Operating profit was boosted by a 3.9% decrease in the cost of sales and a 14% drop in general and administrative expenses. Although respective business performance was lackluster, there is reason for optimism.
Wendy's has ambitious international expansion plans. Since Wendy's and Arby's merged in 2008, they have opened up 45 restaurants outside of North America. And management has signed development agreements for 400 new international locations over the next 10 years. Franchise sales comprised just 12% of quarterly sales, so the international franchise arena is a preferred growth venue. The balance sheet stores $508 million of cash, equaling a quick ratio of 1.4, and $1.6 billion of debt, converting to a debt-to-equity ratio of 0.7.
Wendy's stock has dropped 36% a year, on average, since 2007. In 2010, it has fallen 11%, more than the S&P 500, which is down 4%. Wendy's is a pricey stock. It commands a forward earnings multiple of 23, on par with other restaurants, but higher than the S&P 500 average. But its book value multiple of 0.8, sales multiple of 0.5 and cash flow multiple of 7 reflect discounts of 86%, 81% and 43% to restaurant averages.
Quarterly return on assets widened to 0.2% and return on equity rose to 0.3%, lagging the industry average of 27%. Both measures were negative in the year-earlier quarter.
Analysts' opinions of the company vary. Six, or 38%, advise purchasing its shares, nine recommend holding and one advocates selling them. A median target of $5.18 suggests a potential return of 25%. CL King expects the stock to gain 68% to $7. Oppenheimer predicts a rise of 27% to $5.30. Deutsche Bank(DB) projects a climb of 26% to $5.25.
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Stock News 2010: SM Mall net profit up 11% to P1.9B in 2nd quarter

Image via WikipediaFirst semester net profit totals P3.8B
MANILA, Philippines -- SM Prime Holdings Inc. (SMPH), the country’s largest shopping mall developer, grew its second quarter net profits by 11 percent year-on-year to P1.9 billion on the back of strong consumer spending.
This brought SMPH's first semester consolidated net profit to P3.8 billion, up by 10 percent from the same period last year.
For the second quarter alone, revenues reached P5.9 billion, or 19 percent higher than a year ago.
Cash flow as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) stood at P4 billion, up by 17 percent from the same period in 2009, for an EBITDA margin of 67 percent.
EBITDA margin measures the extent to which cash operating expenses use up revenue.
Consolidated revenues grew by 17 percent to P11.3 billion from a year ago. Six-month EBITDA grew by the same pace of 17 percent to P7.7 billion, for an EBITDA margin of 68 percent.
“The encouraging results delivered by SM Prime validate our positive sentiment on the economy, which is further bolstered by robust consumer spending. In that light, we look to the second half of the year with more optimism in executing our expansion plans," SM Prime president Hans Sy said.
"We aim to offer more avenues for high quality yet affordable products and services, for which the SM brand is known,” he added.
Doris Dumlao

13:06:00 08/04/2010

http://business.inquirer.net/money/breakingnews/view/20100804-284887/SM-malls-net-profit-grows-11-to-P19B-in-2nd-quarter

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Stock News 2010: RLC profit up to P3.3B

Image via WikipediaMANILA, Philippines – The Gokongweis’ Robinsons Land Corp. posted a four-percent year-on-year profit growth in fiscal year 2009 that ended September, on higher revenue from its shopping mall and office property portfolio.
Net profit hit P3.27 billion on the back of a P10.73-billion revenue. Excluding extraordinary items, RLC’s core net income grew by 10 percent, the firm said in a statement.
“RLC’s various business units managed to perform well because of our deep understanding of the market, commitment to operational efficiencies and a healthy balance sheet,” said Frederick Go, RLC president and chief operating officer.
The commercial centers division accounted for P4.21 billion or 39 percent of the real estate revenue for the year, up 14 percent from year-ago level.
Enterprise-wide average occupancy rate for the malls was steady at 93 percent.
From October to December last year, RLC opened four new malls: Robinsons Place General Santos, Robinsons Place Dumaguete, Robinsons Ilocos Norte and Robinsons Cybergate Cebu.
RLC is the second largest shopping mall developer in the country with 29 malls nationwide. The office buildings division, a leading provider of space to BPOs, reported gross revenue of P1.1 billion, or 26 percent higher than year-ago level. Accounting for 10 percent of total revenue, the office division’s operating profit grew by 20 percent to P738 million. It enjoys a stable recurring lease from its six office buildings: Robinsons Cybergate Towers 1, 2, 3, Robinsons Summit Center, Robinsons Equitable Tower, and Galleria Corporate Center.
RLC’s hotels division posted P1.04 billion in revenue, down from last year’s P1.14 billion due to the global travel slowdown. Its net income before tax reached P130.49 million.
Doris C. Dumlao
January 14, 2010
http://www.robinsonsoffices.com/news.html

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