BOULEVARD Holdings, Inc. (BHI) reported sales dropped by 22% for the ten months ending March 31, due to the six-month closure of Boracay island last year.
In a disclosure to the stock exchange, the Panlilio-led firm said consolidated sales of products and services stood at P71.73 million for the ten-month period, lower than the P92.48 million recorded a year ago.
For the month of March, BHI said sales slipped 9% to P11.69 million versus P12.79 million a year ago.
“(The) decrease in sales mainly due to six months closure of Boracay, Malay, Aklan for rehabilitation effective April 26, 2018 and Friday’s Holdings, Inc., 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.
To recall, the Department of Environment and Natural Resources ordered all resorts and establishments in Boracay to be closed from April to October to allow for the island’s rehabilitation.
Friday’s Boracay Beach Resort resumed operations on Oct. 30, 2018.
The company’s core business is in the operation of resort developments. Its subsidiary, Friday’s Holdings, Inc., owns and operates Friday’s Boracay Beach Resort. It also owns Friday’s Puerto Galera, Inc., which operates Friday’s Puerto Galera Beach Resort in Boquete Island, Sto. Nino, Puerto Galera.
