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Bloomberry’s 2nd quarter earnings slump on losses from Jeju hotel

EARNINGS of Bloomberry Resorts Corp. slumped by 17% in the second quarter of 2018, as the company incurred losses from its operations in South Korea coupled with foreign exchange losses.
In a regulatory filing, the listed casino operator said net income attributable to the parent slipped to P1.64 billion in the April to June period, lower than the P1.97 billion it generated in the same period a year ago. This despite a 7.7% rise in revenues to P10.6 billion.
Bloomberry attributed the lower bottomline to the P513 million net loss incurred by Jeju Sun Hotel & Casino, as well as P387 million in foreign exchange losses. Profit from the Solaire Resort & Casino in Entertainment City was also flat at P2.129 billion.
The Razon-led company said expenses went up by 14% during the quarter, counting gaming taxes, employee related expenses, outside services and charges, and additional interest expense from its new syndicated loan which was used to pay off previous debt facilities and to acquire Solaire’s expansion area in Entertainment City from the Philippine Amusement and Gaming Corp.
Gross gaming revenue (GGR) from the Solaire’s VIP segment dropped by a fourth to P4.67 billion in the quarter, as VIP hold rate likewise went down by 2.49% versus 3.61% in the previous quarter.
Mass table drops accelerated by 21% to P10.98 billion, while electronic gaming machine (EGM) coin-in jumped 19% to P53.2 billion during the period. The mass gaming segment helped offset the slowdown in the VIP unit, allowing Solaire to post a one percent year-on-year increase in consolidated GGR to P12.387 billion.
Meanwhile, non-gaming revenues picked up 15% to P908.6 million due to higher hotel occupancy rates, more shows at the Theatre at Solaire, and additional retail outlets at The Shoppes.
On a six-month basis, Bloomberry’s attributable profit gained by a third to P5.33 billion, against the P4.11 billion it exhibited in the first half of 2017. This came on the back of a 20% uptick in revenues to P22 billion.
Consolidated GGR climbed by 14% to P26.13 billion during the first semester, while non-gaming revenues also rose by 9.4% to P1.72 billion.
Bloomberry noted in a statement that the first-half result is the highest six-month net profit ever recorded by the company.
“We continue to make progress towards establishing a solid enterprise. Our fundamentals remain strong, and we look forward to a busy second half and end 2018 with robust full year results,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. was quoted as saying in a statement.
Shares in Bloomberry dropped 0.79% or eight centavos to close at P10.10 each at the stock exchange on Wednesday. — Arra B. Francia

DoubleDragon Properties completes first industrial warehouse in Tarlac

DOUBLEDRAGON Properties Corp. has completed its first industrial warehouse in Tarlac, the first of the eight it plans to construct until 2020.
In a statement issued Wednesday, the listed property developer said CentralHub Tarlac will be the template to be used in building the seven other industrial complexes it has in the pipeline in the next two years.
“The prototype is designed to provide maximum flexibility for its users such as commissaries, cold storages, light manufacturing and logistics distribution centers,” DoubleDragon Chairman and CEO Edgar J. Sia II was quoted in a statement as saying.
DoubleDragon is banking on the projected rise in demand for multi-use warehouses in the country driven by consumer-related companies.
The company will be developing another CentralHub site in North Luzon after Tarlac. It will also build two each in Visayas and Mindanao.
DoubleDragon has only identified Tarlac and Iloilo for the first two sites, which once fully developed will give it 54,000 square meters (sq.m.) of leasable industrial space.
DoubleDragon Chief Investment Officer Hannah Yulo said the company’s aim is to focus on the physical structures that will support the needs of logistics and e-commerce players in the country.
“The current supply of provincial warehouses are not e-commerce suited and the industry is very fragmented with none of the major players owning a portfolio of industrial warehouse complexes in the provincial areas of Luzon, Visayas and Mindanao. As such, we see great opportunity to be able to dominate the industrial leasing industry in the near-term,” Ms. Yulo said in a statement.
The expansion of industrial leasing spaces is part of DoubleDragon’s plan to have 1.2 million sq.m. under its leasable portfolio by 2020. This will include 700,000 sq.m. from 100 CityMalls, 300,000 sq.m. from Metro Manila office projects, and 100,000 sq.m. from 5,000 hotel rooms under the Hotel 101 and JinJiang Inn Philippines brands.
Shares in DoubleDragon gained 20 centavos or 0.74% to close at P27.20 each at the stock exchange on Wednesday. — Arra B. Francia

Megaworld earnings rise 14% in 2nd quarter

MEGAWORLD Corp. grew its attributable profit by 14% in the second quarter, driven by its residential, office, and mall properties alongside the acceleration of its hotel business.
In a regulatory filing, the property firm of tycoon Andrew L. Tan reported a net income attributable to equity holders of the parent to P4.1 billion in the April to June period, higher than the P3.6 billion it generated in the same period a year ago.
Revenues went up by 11% to P13.7 billion during the second quarter, against the P12.3 billion recorded in the same period a year ago.
This pushed Megaworld’s attributable profit 13% higher to P7.25 billion in the first semester, after revenues climbed 10% to P26.8 billion.
“Megaworld’s consistent growth across all business segments is a clear indicator of where the company is going, and we are continuously focusing on putting better value to our customers through our programs on innovation and design, digital technology, smart mobility and connectivity as well as environmental sustainability,” Megaworld Senior Vice President and Treasurer Francisco C. Canuto said in a statement.
Real estate sales rose 10% to P7.46 billion during the April to June period, bringing the six-month tally to P14.65 billion.
Megaworld said it booked P73 billion in reservation sales during the January to May period alone. It launched six residential projects for the first half, namely Park McKinley West in Taguig, Chelsea Parkplace in Pampanga, Bayshore Residential Resorts Phase 2 and Gentry Manor in the Bay Area, Tulip Gardens in Laguna, and The Fifth in Ortigas.
Rental income during the second quarter jumped 7.5% to P14.65 billion, pushing the first semester tally 17% higher to P6.79 billion. Megaworld has office, malls, and commercial space leasing businesses.
The property giant also benefited from the expansion of its hotel portfolio, which allowed it to book P347.16 million during the second quarter and P715 million for the first half. It opened the Savoy Hotel Manila in Newport City which houses 684 room, bringing its total inventory to 2,428.
Megaworld plans to open two more hotels, namely Twin Lakes Hotel in Tagaytay and Lucky Chinatown Hotel in Binondo to meet its year-end target of 2,648 rooms.
“We are ready to supply more rooms to support the government’s goal of 10- million tourist arrivals by 2020. We are in key tourism areas like Cebu, Boracay and Tagaytay,” Mr. Canuto said.
The company saw particular growth in its condotel properties, where buyers can purchase units while the management acts as operator. The owner then gets a share from the hotel revenues in addition to time-sharing privileges in the use of hotel rooms and facilities.
It further noted that Belmont Hotel Manila’s return on investment percentage stood at 7.4% in 2017, higher than the company’s six percent target.
“There is so much potential in this business, and this has also contributed to our bottom line. As a pioneer of this condotel concept in the Philippine real estate industry, we hope to bring in more innovations to this unique offering,” Mr. Canuto said.
Shares in Megaworld jumped 3.44% or 16 centavos to close at P4.81 each at the stock exchange on Wednesday. — Arra B. Francia

Samsung to invest $22 billion in new tech to drive growth

SEOUL — South Korea’s Samsung Group on Wednesday said it would invest $22 billion over the next three years in cutting-edge technology including artificial intelligence, self-driving cars and biopharmaceuticals, as it searches for ways to drive future growth.
The investment will be primarily led by Samsung Electronics, the world’s biggest maker of memory chips, which has faced a string of setbacks in recent years, including a fall in smartphone sales and a corruption scandal that saw its vice-chairman Lee Jae-yong jailed last year.
Although demand for its memory chips remains robust, the market for its smartphones appears to have hit a wall, prompting the company to search for fresh growth opportunities.
“Samsung expects innovations powered by AI technology will drive the industry’s transformation, while the next-generation 5G telecommunications technology will create new opportunities in autonomous driving, the Internet of Things (IoT) and robotics”, the company said in a statement.
Overall, the group plans to invest a total of 180 trillion won ($161 billion) over the next three years across its businesses, with more than 70% of the funds to be spent in South Korea.
It will expand investments in manufacturing hubs, seeking to increase production of semiconductors and display screens as well as dominate new markets by developing technology to power self-driving cars.
The company said it expected to add 40,000 new jobs over the next three years, in news that will likely bring relief to South Korea’s government which is currently struggling with high youth unemployment.
The announcement came two days after South Korean Finance Minister Kim Dong-yeon met the group’s de-facto head Lee, calling for Samsung to create new jobs and boost the economy.
The scion of the founding family, Lee was jailed last year for his part in the graft scandal that brought down former president Park Geun-hye.
He has since been released after some of his convictions were quashed on appeal, and is now awaiting a Supreme Court decision.
Critics say Kim’s meeting with Lee may send a wrong signal to the court that the government backs leniency for the beleaguered businessman.
Samsung’s second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.
Total sales for April-June fell 4.1% year-on-year to 58.48 trillion won, with revenues for the company’s mobile division plunging 22% in the same period. — AFP

Eat steak and make a difference

IF YOU are what you eat, then imagine what good it would do if you ate a meal that came with a soul and a conscience.
Discovery Suites Manila is offering an all-you-can-eat steak buffet on Aug. 18 for lunch and dinner called “1800-Prime,” whose proceeds will benefit an Aeta community in Tarlac — they will go towards building a water tank for the community.
The buffet costs P1,800 nett per person, and offers unlimited prime rib, unlimited sides, a dessert, and a glass of wine.
The Discovery Suites’ 22 Prime restaurant consistently earns a place in Philippine Tatler’s Best Restaurants list, and was listed in the Miele Guide back in 2011.
The Discovery Suites team travelled to Tarlac in May to deliver home filtration systems to the Aeta community courtesy of nonprofit organization Waves for Water. About 60 households were beneficiaries of this project. Discovery Suites General Manager Leeds Trompeta said, “We don’t want them to think that it’s a one-time deal.”
The group has been a partner of Waves for Water since 2016. As for its other projects, it has held toy drives and art auctions for the benefit of children’s charities.
Hotels offer the best in a country, shielding visitors and guests from any unpleasantness which can be hard to deny in a developing country like the Philippines. But Mr. Trompeta said, “Making a difference — that’s one of our core values. Making a difference towards other people, other than our guests.”
For reservations, call P791-6822, or visit discoverysuites.com/1-800-prime/. — Joseph L. Garcia

PT&T gets go-signal to exit corporate rehabilitation

THE Philippine Telegraph and Telephone Corp. (PT&T) said a Makati Regional Trial Court (RTC) granted its request to exit from court-assisted corporate rehabilitation, giving a boost to its plan to participate in the bidding for the third telecommunications player.
In a disclosure to the stock exchange, PT&T said the Rehabilitation Court, or Makati RTC Branch 66, has allowed its exit from rehabilitation “subject to compliance with certain requirements in line with the approved rehabilitation plan.”
The company said it is willing to follow its rehabilitation plan, which includes conducting a stockholders’ meeting to increase its authorized capital stock and to pay its debts via debt-to-equity conversion.
PT&T has a case in the Supreme Court concerning its P8.8-billion debt, and is supposed to undergo a 14-year rehabilitation plan.
“The exit from rehab is well within the plan of our new shareholders and another proof point that PT&T is serious in it’s intention to be a major player in the Philippines telecommunications industry,” PT&T president and chief executive officer James G. Velasquez said in a statement last week.
The telco, which was once PLDT, Inc.’s biggest rival in the industry, has expressed its interest to participate in the government’s search for the so-called “third telco player.”
In March, PT&T signed an agreement with state-owned National Transmission Corp. (TransCo) to allow for the use of the government’s national fiber optic backbone facility. — Denise A. Valdez

NASA’s new spaceship dares to ‘touch the Sun’

TAMPA, UNITED STATES — NASA is poised to launch a $1.5 billion spacecraft on a brutally hot journey toward the Sun, offering scientists the closest-ever view of our strange and mysterious star.
After the Parker Solar Probe blasts off from Cape Canaveral, Florida on Aug. 11, it will become the first spacecraft ever to fly through the Sun’s scorching atmosphere, known as the corona.
Understanding how the corona works will help scientists anticipate dangerous space weather storms, which can disrupt the power grid on Earth.
The unmanned probe is named after Eugene Parker, the 91-year-old pioneering solar astrophysicist, and the US space agency has coined it as the first mission to “touch the Sun.”
It will actually skim by at a distance of 3.83 million miles (6.16 million kilometers) above the Sun’s surface.
The Sun-facing side of the probe will endure temperatures of about 2,500 degrees Fahrenheit (1,370 Celsius).
The spacecraft is protected by a heat shield that will keep it closer to room temperature, about 85 degrees Fahrenheit.
A 45-minute launch window opens on Saturday at 3:48 am (0748 GMT).
Awaiting liftoff, the car-sized probe is already packed on to the Delta IV-Heavy rocket at Cape Canaveral Air Force Station in Florida. — AFP

‘Chef of the century’ Joel Robuchon, 73

PARIS — The multi-starred French chef Joel Robuchon, who died on Monday aged 73, will be honored with a public ceremony next week near his hometown in central France, a spokeswoman for his family told AFP on Tuesday.
Accolades have poured in for Robuchon, a classically trained perfectionist whose revolutionary idea of stripping fine dining of its more elaborate trappings became a template for up-and-coming chefs around the world.
At one point he held a record 32 Michelin stars at the same time for his galaxy of Atelier (“workshop”) restaurants, with people lining up for seats at establishments from Las Vegas to Tokyo.
While his funeral will be private, the public will be able to pay their respects at a ceremony in the Vienne region, where he was born in the city of Poitiers in 1945.
“His wife, his children Eric and Sophie, his grandchildren, along with the rest of his family ask that their privacy be respected,” the statement said.
Robuchon, who was hailed as one of four “chefs of the century” by the Gault & Millau industry bible in 1990, founded a string of restaurants that revolutionised fine dining across three continents, at one point ratcheting up a record 32 Michelin stars.
He still had 24 stars at the time of his death, with foodies lining up from Tokyo to Paris and Macau for seats in his L’Atelier restaurants, where they can watch chefs in action, perched on high stools at a U-shaped bar.
“His name and his style embodied French cuisine around the world, symbolising an art of living and the insistence on work well done, and expressing the richness of our traditions,” President Emmanuel Macron said in a statement.
“Joel Robuchon has put his mark on French cuisine, by always taking his own course and his mix of freedom and rigour,” fellow globe-trotting chef Alain Ducasse told AFP.
Robuchon died of pancreatic cancer in Geneva, where he was planning to open a restaurant, his friend, food critic Gilles Pudlowski confirmed to AFP.
Macron lauded his role in the emergence of nouvelle cuisine, which did away with heavy sauces in favor of ultra-fresh vegetables and intricately crafted dishes.
Tributes poured in from other top chefs, already mourning the death earlier this year of French culinary “pope” Paul Bocuse, and more recently globe-trotting American celebrity chef and author Anthony Bourdain.
British chef Gordon Ramsay, who trained under Robuchon, tweeted that he “kept all of us on our toes! Even when we were sleeping!
Merci Chef, God bless, you’ll be missed,” he wrote.
Gault & Millau’s director Come de Cherisey eulogised Robuchon, whose food empire employed 1,200 people, as “a great business leader.”
“He was among the first, just after Paul Bocuse, who was able to have an international footprint,” he said.
THE PERFECT MASH
Born in 1945 in the central city of Poitiers to a bricklayer father and stay-at-home mother, Robuchon’s first vocation was the priesthood.
But while cooking alongside nuns for other seminarians he discovered a passion for food and at 15 entered the restaurant trade.
A perfectionist from the start, he quickly earned a name for himself and by the age of 30 was running a 90-strong kitchen at the Concorde Lafayette hotel in Paris.
His signature creations included truffle tart, cauliflower cream with caviar and langoustine ravioli — but he also elevated the humble potato, with his smooth, buttery mash earning rave reviews.
He was among the first top chefs to work closely with big food companies, starting as an adviser to the French group Fleury Michon in 1987.
His picture soon began gracing a line of signature ready-to-eat dishes, while giving tips on “Eating Better,” the Fleury-Michon slogan.
But by the age of 51 he had worked himself to the bone. Declaring he did not want to die of the stress of turning out flawless fare day after day, the father of two announced his retirement in 1996. “I will watch my children and my grandchildren grow up, I will love my wife, my friends, and the good things in life,” he told Le Figaro.
But he soon became a fixture on French television, hosting a series of popular cooking shows that aimed to demystify haute cuisine for the masses.
The most popular was Bon Appetit Bien Sur, a daily 20-minute program which ran from 2000 to 2009 and often included appearances by other top chefs.
His campaign to encourage better everyday eating also included writing nearly 20 books, including Cooking Through the Seasons and one dedicated to potatoes.
By 2003 he was back in the kitchen with the Atelier concept, which he debuted in Paris and Tokyo and later took to London, Las Vegas and New York, among other cities.
“Times have changed, consumers are looking for cuisine that is less sophisticated, a place with ambiance where you eat well,” he said. — AFP

Robinsons Land Q2 earnings up 16%

ROBINSONS Land Corp. (RLC) delivered a 16% increase in attributable profit during the second quarter of 2018, fueled by the performance of its residential, commercial, and hospitality segments.
In a regulatory filing, the Gokongwei-led property developer said net income attributable to the parent reached P1.79 billion, higher than the P1.54 billion it realized in the same period a year ago. This followed a 20% increase in revenues to P6.74 billion.
For the first semester, RLC’s attributable profit jumped by 14% to P3.33 billion, while revenues went up 19% to P13.1 billion.
The listed firm’s commercial centers division contributed bulk of its gross revenues at P5.82 billion, or 11% higher year-on-year. This was driven by same-mall rental revenue growth, as well as the contribution of new malls including Robinsons Place Iligan, Robinsons Place Naga, Robinsons North Tacloban, Robinsons Place Ormoc, and Robinsons Place Pavia.
Last June, the company opened its 50th mall in the country located in Tuguegarao, adding 38,000 square meters (sq.m.) to the company’s leasable space portfolio. Robinsons Place Tuguegarao covers 60,000 sq.m. in terms of gross floor area.
RLC expects to end the year with 1.508 million sq.m. in gross leasable area for its mall business.
The residential segment generated P4.45 billion in revenues for the first half, up 14% year-on-year. It launched three residential towers, namely Magnolia Tower D, Radiance Manila Bay South, and Acacia Aurora Escalades during the first semester, with plans to unveil two more in the second half.
RLC also saw P1.8 billion in contributions from the office buildings division, 18% higher year-on-year. Hotel business contributed P976.5 million in revenues, as system-wide occupancy rate of 64% helped boost revenues by six percent.
Net leasable area from RLC’s office segment stood at 405,000 sq.m. at the end of 2017, which it targets to expand by 28% to 518,000 sq.m. this year. The company is scheduled to open Exxa, Zeta, and Cyberspace Gamma office towers in Ortigas Center before the year ends.
RLC is further growing the office segment with the addition of Giga Tower, Cybergate Galleria Cebu, Cybergate Magnolia, and Delta Tower Two by 2019, bringing its total NLA to 613,000 sq.m. by then.
Meanwhile, RLC’s infrastructure and integrated developments division contributed P57.4 million for the period.
Shares in RLC shed 2.43% or 50 centavos to close at P20.10 each at the stock exchange on Wednesday. — Arra B. Francia

Apple: iPhones are not listening in on users

APPLE INC told US lawmakers on Tuesday that its iPhones do not listen to users without their consent and do not allow third-party apps to do so either, after lawmakers asked the company if its devices were invading users’ privacy.
Representatives Greg Walden, Marsha Blackburn, Gregg Harper and Robert Latta wrote to Apple’s chief executive Tim Cook and Alphabet Inc chief executive Larry Page in July, citing concerns about reports that smartphones could “collect ‘non-triggered’ audio data from users’ conversations near a smartphone in order to hear a ‘trigger’ phrase, such as ‘Okay Google’ or ‘Hey Siri.’”
In a letter to Walden, an Oregon Republican who chairs the House Energy and Commerce Committee, Apple said iPhones do not record audio while listening for Siri wakeup commands and Siri does not share spoken words. Apple said it requires users to explicitly approve microphone access and that apps must display a clear signal that they are listening.
The letters, in which lawmakers cited reports suggesting third-party applications had access to and used ‘non-triggered’ data without users’ knowledge, followed congressional hearings in April into Facebook Inc’s privacy practices, which included testimony by its CEO Mark Zuckerberg.
Alphabet did not respond to questions about whether it had replied to lawmakers. Apple declined to comment beyond its letter, which was seen by Reuters.
A spokeswoman for the Republican majority on the House Energy and Commerce Committee said “both companies have been cooperative thus far. The Committee looks forward to reviewing and analyzing the responses as we consider next steps.”
Apple wrote that it had removed apps from its App Store over privacy violations but declined to say whether it had ever banned a developer. It also said it was up to developers to notify users when an app was removed for privacy reasons.
“Apple does not and cannot monitor what developers do with the customer data they have collected, or prevent the onward transfer of that data, nor do we have the ability to ensure a developer’s compliance with their own privacy policies or local law,” Apple wrote.
The iPhone maker’s App Store has generated $100 billion in revenue for developers over the past decade. Apple told lawmakers in its letter that it rejected about 36,000 apps from among the 100,000 submitted each week for violations of its guidelines. — Reuters

Term deposits attract demand

By Melissa Luz T. Lopez, Senior Reporter
BANKS continued to crowd the one-week term deposits offered by the Bangko Sentral ng Pilipinas (BSP) this week, as players await the regulator’s decision on interest rates today.
Demand for the term deposits reached P110.185 billion on Wednesday, down from the P120.679 billion bids received the previous week. Still, the amount was higher than the P100 billion the central bank offered to sell.
More than half of the tenders placed by the banks went into the week-long papers, while the longer-dated tenors received bids below offer.
Banks wanted to place as much as P65.44 billion under a seven-day lock-in with the BSP, surging from the P51.935 billion tenders given the previous week and settling well above the P40 billion auction amount.
Despite the robust demand, players still asked for bigger returns to hit a 3.7797% average, up from 3.7405% fetched a week ago as banks sought rates ranging from 3.65-3.945%.
In contrast, the 14-day tenor saw bids slashed to P33.285 billion, slipping from the P49.801 billion tenders posted the previous week to settle below the P40 billion offer. Yields also climbed to average 3.9234%, coming from 3.9016% seen during the Aug. 1 exercise as lenders wanted returns as high as 4%.
The 28-day deposits also saw tepid demand this week, with banks only betting P11.46 billion versus the P20 billion on the auction block. Appetite grew softer compared to the P18.943 billion seen the previous week and remained undersubscribed.
These bids also came with the demand for wider margins, which rose to 3.962% from 3.9605% last week.
The term deposit facility (TDF) is currently the central bank’s main tool to capture excess money supply in the financial system. The BSP hosts the weekly auctions of short-term papers to bring market and interbank rates within its desired spread, which currently ranges from 3-4%.
The BSP has been offering P100 billion for its weekly TDF auctions since June.
The bias towards the one-week papers comes ahead of the Monetary Board’s rate-setting meeting today, wherein market players and analysts are expecting a fresh hike from the BSP at a time of surging inflation.
More bank economists are seeing strong chances for the BSP to raise rates by 50 basis points (bp) following a higher-than-expected 5.7% inflation print in July, and given signs that prices will rise further over the coming months.
“The BSP stands ready to undertake strong follow-through monetary policy action to help ensure that 2019 inflation target is achieved,” the central bank said in a statement on Tuesday.
Benchmark rates currently range between 3-4%, following two hikes worth 25 bps each announced in May and June.
The last time the BSP raised rates by 50 bps in one go was in July 2008, which saw inflation surge to a 17-year high at 12.2% against a 3-5% target that year.
Inflation has averaged 4.5% as of end-July, well above the 2-4% target for 2018.

Let them eat potatoes! Robuchon’s recipe for the perfect potato mash

PARIS — Mashed potatoes were to Joel Robuchon, the star French chef who died on Monday at 73, what a madeleine sponge cake dunked in tea was to novelist Marcel Proust: a powerful, sensuous reminder of his youth.
And as far as he was concerned, the more butter, the better.
Robuchon rehabilitated the simple milk-spud-butter mix in the 1980s, at a time when most chefs looked on it with disdain, and, as he later recalled, “there were only packets of Mousseline (an instant mash mix) to be found in French homes.”
“He realised early on that if you give people potatoes, potatoes, and more potatoes, they’ll be eternally grateful, forever fulfilled,” food author Patricia Wells wrote in her 1991 book on Robuchon’s cooking.
The New York Times published the recipe and it went on to become a global sensation.
Here it is, in 10 steps, as described by Robuchon in the French TV program Cuisinez comme un Grand Chef:
1. Use a kilogram of potatoes, approximately the same size. Do not peel them. (Robuchon used the ratte variety).
2. Wash the potatoes and cover them with water, adding an extra 2-3 centimeters on top.
3. Add 10 grams of salt per liter of water.
4. Bring the potatoes to the boil and simmer for 25 minutes. Prick a potato with the tip of a knife and try lifting it up. If it falls off it’s cooked.
5. Peel the potatoes while still hot and put them through a vegetable mill. Do not use a blender as it makes the mash sticky.
6. Add a drop of water to a saucepan and then pour in 20-30 centiliters of full-cream milk. Bring the milk to a boil.
7. Over a low heat, add 250 grams of cold butter, cut into lumps, to the potato mix, little by little.
8. Add the milk slowly.
9. Mix first with a wooden spoon. When the mix gets softer, use a whisk.
10. To make the mix even finer, put it through a sieve.
And to quote Robuchon’s sign-off in his TV food show which ran from 2000 to 2009: “Bon appetit bien sur!” — AFP