Boulevard Holdings, Inc. (BHI) saw a significant drop in sales of products and services for the month of May, following the six-month closure of Boracay Island where the company operates a beach resort.
In a disclosure to the stock exchange on Thursday, June 28, BHI said sales of products and services plunged 81% to P1.7 million last May, compared to the P8.74 million recorded in the same period last year.
“Decrease in sales mainly due to six months closure of Boracay, Malay, Aklan for rehabilitation effective April 26, and Friday’s Holdings, Inc. (FHI), which owns and operates Friday’s Boracay Beach Resort is one of the companies affected by the order of the national government,” the company said.
BHI is the parent firm of FHI.
The government moved to shut down Boracay last April, following President Rodrigo R. Duterte’s comparison of pollution on the island to that of a “cesspool.” This week, the Department of Interior and Local Government has also filed a complaint against Aklan Governor Florencio Miraflores and 16 local officials for the alleged negligence in managing the island. — Arra B. Francia