Home Blog Page 6034

Global-Estate’s earnings surge 33% to P405M; hotels lead growth

GLOBAL-ESTATE Resorts, Inc. (GERI) posted a 33.2% increase in its attributable net income of P404.55 million in the second quarter as most of its business segments recorded higher revenues.

Revenues surged by 41.5% to P1.74 billion for the April-June period from P1.23 billion in the same period last year, its quarterly financial report filed with the stock exchange showed.

In the first half, the Megaworld Corp. subsidiary recorded a 24% increase in attributable income to P747.58 million in the first half after booking growth in its hotel revenues amid eased mobility restrictions.

“We are seeing the tourism and leisure market gain momentum, benefiting our company which is best positioned to accommodate this return and influx of tourist arrivals,” GERI President Monica T. Salomon said in a press release on Thursday.

Its topline during the first six months grew by 22% to P2.96 billion backed by strong real estate sales, which registered a 29% increase to P2.3 billion.

Hotel revenues, which posted the biggest growth among GERI’s business segments, posted a 253% rise to P158 million attributed to the reopening of hotels to meet the increase in tourist arrivals.

GERI also realized an increase of 11% in reservation sales in its properties in Boracay, Newcoast, Eastland Heights, Twin Lakes and Arden Botanical Estate to P212 million.

Rental income, which benefited from the reopening of the economy, was up by 11% to P212 million.

“Likewise, the continued improvement in mobility has allowed for higher completion of our residential projects, particularly during the second quarter,” Ms. Salomon added.

Recently, the company inaugurated its first convention facility, Boracay Newcoast Convention Center.

“We are keen on having more facilities that will further boost tourism in our various estates around the country,” Ms. Salomon said.

To date, GERI has eight integrated tourism developments across the country covering more than 3,300 hectares.

On the stock market on Thursday, shares in GERI rose by 2.33% or P0.02 to P0.88 apiece. — Justine Irish D. Tabile

Cebu Air net loss down to P1.89B as revenues jump

CEBUPACIFICAIR.COM

CEBU Air, Inc., the listed operator of budget carrier Cebu Pacific, announced on Thursday that it narrowed its net loss for the second quarter of the year to P1.89 billion from a loss of P6.49 billion previously.

The company saw its revenues for the period jump 336.6% to P13.97 billion from P3.2 billion in the second quarter of 2021, its second-quarter financial performance results showed.

“During the second quarter of 2022, most parts of the country remained to be classified under the more relaxed alert level classification,” Cebu Air said.

“As a result, the group restored almost the same level of its pre-pandemic system-wide capacity following the continuous ramp-up of its domestic and international routes,” it added.

Expenses for the second quarter increased 85.3% to P16.79 billion from P9.06 billion previously.

For the first half of the year, Cebu Air’s net loss amounted to P9.5 billion, 31.1% lower than the P13.79-billion net loss sustained for the six months ended on June 30, 2021.

Cebu Air’s revenues for the first six months reached P20.682 billion, 250.3% higher than the P5.9-billion revenues generated in the same period in 2021.

“The overall increase in revenues was primarily driven by significant increase in passenger volume, cargo services and flight activities as the COVID-19 (coronavirus disease 2019) restrictions already eased by March 2022,” the company said.

Cebu Air expects that the level of demand will increase further for airline services not just within the Philippines but even abroad.

“The positive development has not only allowed the group to carry more passengers, but also boosted the group’s cargo services,” it said.

Cebu Air’s passenger revenues went up 474.5% to P11.67 billion for the first six months from P2.03 billion earned in the six months last year.

Meanwhile, cargo revenues grew 26.8% to P3.57 billion for the period from P2.815 billion for the six months of 2021.

It incurred operating expenses of P28.84 billion for the first half, higher by 55.1% compared with the P18.59-billion operating expenses recorded previously.

Cebu Air shares closed 5.12% higher at P45.20 apiece on Thursday. — Arjay L. Balinbin

Retailers upbeat on growth despite surging prices

THE Philippine Retailers Association (PRA) remains positive that the local retail sector’s growth trajectory will continue despite the country’s rising inflation rate, its top official said on Thursday.

“I think it (retail sector’s growth) will continue given that there is inflation because we saw the excitement of people as we go back outside. But of course, I am still very positive that we will achieve even more,” PRA President Rosemarie B. Ong told reporters on the sidelines of the 28th National Retail Conference and Stores Asia Expo in Pasay City.

“With the opening up of the economy, the easing of restrictions, it really paved the way for more mobility. Everybody is mobile now,” she added.

Preliminary data recently released by the Philippine Statistics Authority revealed that the country’s headline inflation rose 6.4% in July, up from 6.1% in June. It said the higher inflation was due to the increasing prices of food and non-alcoholic beverages, transport, and restaurant services.

According to Ms. Ong, some retailers have posted double-digit growth after coming from a low base last year due to the effects of the coronavirus disease 2019 (COVID-19) pandemic.

She added that the growth drivers for the retail sector this year include maintaining mobility and safety.

“By and large, some of the retailers have experienced double-digit growth. The challenges we faced such as the Delta (variant) surge. We saw revenge shopping. Growth drivers for the rest of the year [include] mobility. It is important to remain cautious,” Ms. Ong said.

“Some sectors were really challenged. Tourism is slowly going back. Because of the challenges of inflation, the challenges of supply chain disruption, many were really [affected], but by large, retail we’re all good. We see people going back to the physical format. They are going back to face to face now,” she added.

The retail conference is the PRA’s flagship program and involves top retailers, shopping center developers, and suppliers. The event, which is from Aug. 11 to 12, provides an avenue to allow partnerships among industry players to push for the retail sector’s recovery from the COVID-19 pandemic. — Revin Mikhael D. Ochave

Century Properties posts 26% profit hike to P175M

CENTURY Properties Group, Inc. (CPG) posted a net income of P174.75 million attributable to equity holders in the second quarter, nearly 26% higher than a year ago, after posting double-digit revenue growth.

In its financial report filed with the stock exchange on Thursday, the property developer reported gross revenues of P2.7 billion, 14.9% higher than the level a year ago.

In the first half, its attributable income reached P324.26 million, up 15.5% from P280.63 million previously. Revenues during the semester grew by 19.9% to P5.31 billion from P4.43 billion.

Its net income after tax reached P548.38 million, up nearly 20% from P457.06 million a year ago.

“We are steadfast in our commitment of being a part of nation building by serving the needs of Filipinos for quality, affordable, and strategically located homes,” said CPG Chief Finance Officer Ponciano S. Carreon, Jr. in a press release.

CPG’s affordable housing unit PHirst Park Homes, Inc. (PPHI) P2.6 billion or about 48% of total revenues. The unit is a joint venture with Mitsubishi Corp.

“We will further ramp-up this business segment as we help fill the high demand due to the big unserved backlog of this market segment,” Mr. Carreon said.

The listed company’s leasing segment contributed P521 million.

In March, CPG launched PHirst Park Homes Naic in Cavite, and in April, it offered PHirst Park Homes Balanga in Bataan.

For the rest of the year, the company said two more PHirst Park Homes projects in Central Luzon will be launched.

It said that with 12 affordable housing projects launched, the company is close to achieving its target of 15 projects by 2023.

CPG added that as of June 2022, it had completed 4,584 affordable houses, of which 3,126 had been turned over.

Shares in the company were unchanged at P0.38 on Thursday.

Holcim income drops 67% on soft demand 

HOLCIM PHILIPPINES FACEBOOK PAGE

HOLCIM Philippines, Inc. reported on Thursday a 66.6% drop in its second-quarter attributable profit to P240.77 million from P721.27 million in the same period last year amid soft market and cost pressures.

In a press release, the company said it “faced escalating costs driven by significant hikes in fuel and power prices, as well as slower demand particularly from the public sector as the new-construction ban took effect in relation to the national elections.”

Gross revenues for the second quarter declined by 20.8% to P5.43 billion from P6.86 billion last year, its financial report filed to the exchange showed.

In the first six months, Holcim Philippines’ attributable income fell by 59.4% to P661.05 million from P1.63 billion.

Revenues for the first semester were recorded at P12.17 million, down 10.9% compared with P13.66 million in the corresponding period last year. 

“Our strategy to embed sustainability in our operations is enabling us to manage current challenges and deliver sustainable business performance,” said Horia Ciprian Adrian, president and chief executive officer of Holcim Philippines.

Holcim Philippines said that it continued to drive operational efficiencies during increases in production and distribution costs due to external developments.

To offset rising costs, the company said it accelerated the use of qualified wastes as alternative fuels, which accounted for more than 20% of its combined thermal and energy requirements.

On Thursday, shares in the company inched up by 3.96% or P0.18 to end at P4.73 apiece on the stock exchange. — Ashley Erika O. Jose

Boulevard Holdings to focus on Friday’s resorts

BOULEVARD Holdings, Inc. (BHI) will not have new projects for the second half but instead, focus on developing its Friday’s resorts in Puerto Galera and Boracay.

“We’re going to do a very conservative approach. We’re just going to improve our two Friday’s resorts first,” BHI President and Chief Executive Officer Jose Marcel E. Panlilio said during BHI’s annual stockholders’ meeting.

One of the company’s projects is the land connectivity of its Friday’s Puerto Galera at Boquete Island, which is an answer to the rising prices of oil that is causing higher operating costs.

BHI is set to complete in the second half of 2022 and until May next year water installations, re-conditioning, engine replacements and re-roofing projects.

Aside from upgrading its existing resorts, the company is also planning to acquire land in Siargao for an amount not higher than P100 million.

“We’ll probably purchase some land in Siargao but that won’t be more than P100 million and we’ll be given time to pay for it, like three years, and that would be good enough,” Mr. Panlilio added.

The company is also looking forward to growing the value of its 68-hectare land in Ternate, Cavite, which is said to be located near a project led by billionaire Enrique R. Razon, Jr.

Mr. Razon’s Bloomberry Resorts Corp. previously bought properties in Ternate that it intends to develop into an integrated resort.

“We would like our land to go up in value and at the same time we like to grow up with them [Mr. Razon’s group] next door because obviously they’re gonna talk with us again for joint ventures,” Mr. Panlilio said.

BHI is the owner of Friday’s Holdings, Inc., which operates Friday’s Boracay Beach Resort in Aklan. It is also the beneficial owner of the 45.46% equity in Friday’s Puerto Galera, Inc., owner of Friday’s Puerto Galera Beach Resort in Oriental Mindoro. — Justine Irish D. Tabile

A new Darna takes flight

A SCENE from the new adaptation of Darna played by Jane De Leon.

AFTER the decision was finally made over whether to produce the new adaptation as a film or TV series (television won out), and who the actress to don the famous costume would be, the Pinoy superheroine Darna flies again beginning Aug. 15.

The character of Darna was created by writer Mars Ravelo and artist Nestor Redondo, with her first appearance in Pilipino Komiks in 1950. The story follows a girl called Narda who sees a falling star one evening and sets out to find where it landed. She finds the meteor and swallows the white stone which has “Darna” inscribed on it. She transforms into a superheroine upon yelling “Darna.” By shouting “Narda,” she changes back into her old self.

Very soon, Darna was flying through film and the small screen.

Darna was first adapted into a movie in 1951, starring Rosa del Rosario in the lead role. Since then, it has been adapted into multiple films and television series, with a long roster of actresses playing the role including Vilma Santos, Rio Locsin, Sharon Cuneta, Nanette Medved, Angel Locsin, and Marian Rivera.

“A lot of people don’t know na my father grew up very poor,” Mars Ravelo’s son, Rex Ravelo, said at the press conference at the Dolphy theater in Quezon City on Aug. 8. “Kaya nagkaroon ng Darna was because na-inspire siya ng nanay niya. Single mother yung nanay niya. (The inspiration for Darna’s creation was his mother. She was a single mother.) Watching the mother raise kids, with the inspiration of Superman, he created [Darna].”

ABS-CBN’s new adaptation follows young Narda, an emergency medical technician (EMT) in this iteration. She is a loving breadwinner to the Custodio family, and is destined to become the next protector of the powerful stone that enables her to help those in danger.

The new Darna/Narda is played by the very promising Jane De Leon.

Sobrang nakaka-overwhelm. Ito na yung pagkakataon namin para ipakita sa buong mundo yung pinaghirapan ng production (It’s very overwhelming. This is our chance to show the world the production we worked hard on….),” she said.

Ms. De Leon noted that this adaptation shows Narda’s relationship with her mother, Leonor (played by the wonderful Iza Calzado), who was the first Darna. The white stone is passed down to Narda to continue the superheroine’s mission of helping others.

“If may kakayahan kang tumulong, tumulong ka. Malaki o maliit na bagay, malaking bagay na ’yun para sa mga taong nangangailangan. Hindi naman natin maipagdadamot iyon (If you have the capacity to help, do so. May it be a big or small, it is a huge help for those in need. We will not resent it),” Ms. De Leon said of what she learned from playing the role.

Meanwhile, Janella Salvador plays vlogger and lawyer Regina who is also Darna’s enemy Valentina, the goddess of snakes.

“We all know how iconic the role of Valentina is. Aside from the fact that it is physically draining, it’s actually a very complex character. It’s quite difficult to act, it’s emotionally draining as well,” Ms. Salvador said, giving credit the previous actors who played the role.

“I want to make it my own but at the same time, gusto ko siyembre tumatak siya (I want it to make a mark too),” she added.

DELIBERATE WEAKNESS
Darna’s stone/amulet has changed through the years.

“Originally, ang bato ay hindi nailuluwa kasi walang weakness si Darna. ‘Pag nilunok niya ‘yung bato, yung power niya has no limits. Sisigaw lang siya ng ‘Narda’ para bumalik sa dati, pero yung bato hindi lumalabas, pumunta sa puso (Originally, the while stone was not spit out because Darna has no weakness. When she swallowed the stone, her powers had no limits. She’d just shout ‘Narda’ to change into her old self, but the stone would not come out, it went to her heart),” Mr. Ravelo said.

Unable to recall when and in which adaptation the detail was altered, Mr. Ravelo said that previous directors and writers found it unrealistic for Darna to not have a weakness.

Hindi maganda na walang weakness si Darna, so ginawa nila na lumalabas yung bato para meron siyang weakness (It is not good that Darna has no weakness, so what they did was to have the stone spit out so she would have a weakness),” Mr. Ravelo said, adding that the tweak was an exciting change to the story which now sees Darna challenged or sometimes defeated.

Joining the cast are Zaijian Jaranilla as Narda’s geeky younger brother Ding, and Joshua Garcia as a police officer. Also in the cast are Paolo Gumabao, Rio Locsin, Richard Quan, Simon Ibarra, Jeffrey Santos, Eric Fructuoso, and Levy Ignacio.

The series is directed by Chito S. Roño, Avel Sunpongco, and Benedict Mique.

“I’m very pleased not only that she [Jane De Leon] focused, not only that she concentrated, she has done very well as an actress for ‘Darna,’” Mr. Roño said on Ms. De Leon’s portrayal.

P-pop boy group BGYO performs the series’ official title song, “Patuloy Lang Ang Lipad.”

Darna premieres on Aug. 15, 8 p.m., and will then air at the same time from Monday to Friday on the Kapamilya Channel, A2Z, Jeepney TV, and TV5. It will also be available on Kapamilya Online Live, iWantTFC, and The Filipino Channel. — Michelle Anne P. Soliman

Increased activities helped 2GO return to profit

2GO Group, Inc. returned to a net attributable profit in the second quarter of the year after losing P308.73 million a year earlier.

The company reported an attributable net income of P108.14 million for the second quarter of 2022.

Revenues for the period reached P4.71 billion, up 23.9% from P3.8 billion previously, 2GO Group’s second-quarter financial performance results showed.

“The strong performance was driven by increased activities in the second quarter across major business lines, boosted by shipping and passenger volumes as the economy opened up,” the company said in an e-mailed statement.

“Shipping saw increased volumes of goods shipped to the Visayas and Mindanao regions in particular, while passenger numbers also increased significantly as movement restrictions were lifted,” it added.

It also reported an attributable net income of P73.24 million for the first six months of 2022, after losing P615.93 million in the same period last year.

Revenues for the first half rose 11.7% to P8.7 billion from P7.79 billion previously.

“Increased economic activity and demand for transportation nationwide helped drive our financial turnaround,” 2GO President and Chief Executive Frederic C. DyBuncio said.

“Our focus on customer experience and serving high-growth sectors ensures that 2GO is leading in logistics sector growth,” he added.

According to the company, it also benefited from “operational efficiencies and higher service levels” due to recent investments in IT and systems and two ROPAX ships — MV 2GO Maligaya and MV 2GO Masagana.

“More fuel-efficient ships and vehicle routing systems helped offset the effects of higher fuel costs, among other initiatives,” it said.

2GO Group shares closed 4.1% higher at P6.60 apiece on Thursday. — Arjay L. Balinbin

Marcos, revisited

SCREENGRAB from the trailer of Isang Salaysay ng Karahasang Pilipino (A Tale of Filipino Violence) by Lav Diaz

Movie Review
Isang Salaysay ng Karahasang Pilipino
(A Tale of Filipino Violence)

Directed by Lav Diaz

HOW many ways can Lav Diaz take on the Marcos dictatorship? As early as Batang West Side (West Side Avenue, 2001) where a lead character admits to a dark relationship with the regime, he’s presented that period in Philippine history as a kind of collective trauma, a recurring nightmare we struggle to wake from.

Through Ebolusyon ng Isang Pamilyang Pilipino (Evolution of a Filipino Family, 2004), featuring archival footage of the 1986 EDSA revolt that toppled Marcos, into Death in the Land of Encantos (Kagadanan sa Banwaan Ning Mga Enkanto, 2007), where a former tormentor and his former tormented replay their parts, into Melancholia (2008), where survivors of military torture undergo radical role-playing therapy, into Norte, The End of History (Norte, Hangganan ng Kasaysayan, 2013), where a Raskolnikov figure re-enacts the young Marcos’ rise as law student and murderer (Ferdinand Marcos, Sr. was first convicted of murdering Julio Nalundasan, then acquitted by the Supreme Court.), into From What is Before (Mula sa Kung Ano ang Noon, 2014), which traces the regimes’ strategies to justify Martial Law, into Season of the Devil (Panahon ng Halimaw, 2018), where Marcos and just-departed president Duterte are mashed into a single monster figure, Marcos has been Diaz’s persistent bete noir, the shadow looming over his onscreen landscapes — this not including mentions or allusions made in his other films, shorts, documentaries, omnibus entries.

In Isang Salaysay ng Karahasang Pilipino (A Tale of Filipino Violence) Diaz expands Ricky Lee’s short story “Servando Magdamag” into a feature. Servando Tres (Bart Guingona) is dying; his son Servando Monzon (John Lloyd Cruz) will soon be taking over the family hacienda. But Servando Jr. Won’t hold it for long — Captain Andres (Earl Ignacio) of the Armed Forces of the Philippines tells Servando that troops are setting up camp on Monzon grounds and establishing checkpoints along the streets. Later Lieutenant Villaronte (Topper Fabregas) informs Servando that the government will be taking over his properties at an agreed-upon price (the government’s) — Servando himself can go free if he publicly admits to being a communist supporter and apologizes for certain words he said against the president.

These are just some of the stories Diaz collected, not entirely fiction — people remember and will verify crucial details. More to the point is the feeling of claustrophobia, of escalating paranoia, particularly among the educated and intellectuals, who had to watch their actions and even words (maybe the biggest and only laugh Servando manages to enjoy is when he learns he’s being prosecuted not because he’s a threat but because he hurt the president’s feelings).

As for the proletariat — they don’t raise their voice or respond in public, they simply know the score: oppression by the upper class is bad, but oppression well-coordinated and on this scale by a single controlling entity is worse. Better to just shut up, fade into the jungle, join the opposition. Diaz shows us exactly that: a major character without a word of explanation suddenly appears onscreen in NPA (New People’s Army) fatigues, squatting in a bush with assault rifle in hand.

Servando Tres lying in bed wracked with pain is Diaz’s devastating portrait of the upper classes. Tres has a history not just of cozying up to established powers — he’s contributed generously to the military — but of sexually abusing the young women of his hacienda, a sort of side hobby. And he comes from a long line: the original Servando fled from Spain to the Philippines after killing his unfaithful lover, to be granted property that he and his descendants developed and farmed through the centuries, until the bigger predator came along.

Extending the line into the next generation is Servando’s brother Hector Maniquiz who was handed quietly over to the member of a religious cult, shut in a cave and abused for 21 years, emerging an impassive killer. Hector’s crimes (walling up his father alive, shooting churchgoers) are flashy but small-scale, more crimes of impulse than planned acts of social and political violence. And Hector, for all his considerable flaws, is refreshingly up-front: he knows what he wants, knows what he’s doing and how wrong it is, knows what’s in store for him in the near future. As played by Lloyd Cruz in a second role he possesses an irresistible roughneck appeal, and it’s Diaz’s conceit that, yes, even a wanton killer is more charming than Marcos.

Caught between a violent past and a violent present, Servando finds himself in an unenviable position. He feels guilt over the previous Servandos’ crimes, guilt over his brother’s killing spree, guilt over his own relative powerlessness to do anything about anyone; he feels sneaking sympathy for his wife and brother-in-law’s cause and for the workers that he manages on his hacienda (one is reminded of Alfredo in Bernardo Bertolucci’s 1900 – call this Diaz’ microbudget take on the Bertolucci epic). All these forces serve to keep him in a state of suspension, an unstable one: he’s compelled to move, but in which direction?

Lloyd Cruz is superb as Servando, suggesting without excessive emoting (the curse of many Filipino actors) the anguish of a man under all kinds of pressure, including a government that seems to know everything about him and watches his every move — but he’s hardly alone. Bart Guingona suggests the outsized presence of Servando Tres, despite spending most of his onscreen time on his back; Agot Isidro as Servando’s crazed Tiya Dencia suggests an even more forlorn Blanche Dubois than Tennessee Williams’; Hazel Orencio’s Belinda serves as both Servando’s wife and Dencia’s heroically patient caregiver; Nanding Josef plays a quietly thoughtful street philosopher. Diaz even manages to give time to supporting performers — Ignacio’s menacing Captain Andres, Fabregas’ sinister Lieutenant Villaronte, a trio of funny blind kibitzers: Loloy (Glendel Dacumos), Trumpo (Jo-Ann Requiestas), and Auring (Lhorvie Nuevo).

Diaz continues to grow as a filmmaker: his black and white cinematography is a thing of beauty now, the often-complex range of inky shadow and charcoal shade suggesting Japanese sumi-e, the framing constantly thoughtful and precise. Dencia and Belinda rest a moment under a tree’s shade, and the image has an unearthly Gustave Dore radiance; Hector walks into a residence hall with a pair of pistols and Diaz cuts the resulting sequence to suggest the unstoppable horror of a man on rampage without catering to the cliches of Hollywood gun violence (slow motion, spurting blood, so forth) — if anything Diaz’s disruptive editing and cool arm’s-length camerawork recall Lynne Ramsay’s unsettling You Were Never Really Here.

Another film (or novel) that comes to mind watching this picture is Gerardo de Leon’s El Filibusterismo (The Subversive) where Simoun plots to sow chaos and overthrow the Spanish; both De Leon (and Jose Rizal in his source novel) show Simoun’s ambivalence: must he create so much evil to obtain an all-important good — Philippine independence? The answer in the book is a clear “no!,” less so in the film adaptation, but both Rizal and De Leon just as clearly show Simoun’s despair at anything ever really changing.

Diaz too — if you follow this film or, better yet, follow the course of his films, you can see how his attitude has changed over the years. From the quiet hope for redemption in Kriminal ng Baryo Concepcion (Criminal of Barrio Concepcion) to the retreat into contemplation at the conclusion of Hesus Rebolusyonaryo (Jesus Revolutionary) to the breathlessly staged final image of Panahon ng Halimaw that dares us with the question: “What do you want to do about it?” Diaz seems to hold out the possibility of change, perhaps not now but later. Now he — or his avatar Servando — seems to look to the past in the form of Servando Tres and Servando the original and their narrative of almost unrelenting cruelty, looks to the future as incarnated by his wild-animal brother Hector, and his shoulders appear to sag in resignation. It’s not just Marcos, or the thug-dictators he doesn’t know (but is certain) will follow; Servando/Diaz apparently manages to take a step further back and look beyond the former president. His single most hopeful moment — the birth of his son through Belinda — is followed by the film’s single most painful scene; he seems defeated not by this dictator or that line of dictators, but by life itself — by God if you like which, watching this film, you wonder if Diaz (sorry, Servando) believes in anymore.

Meanwhile there’s this film, whose existence is as hopeful a sign as any (despite its pessimism) that Philippine cinema is ready and willing to rise to the challenge, take on this son of a former dictator the way it took on (simultaneously and most powerfully in Diaz’s Panahon ng Halimaw) the dictator just departed. Best of the year, perhaps best of several years.

Robinsons Retail’s income doubles to P1.6B

ROBINSONS Retail Holdings, Inc. (RRHI) reported an attributable net income of P1.56 billion in the second quarter, more than double the P723.89 million earned in the same period last year.

In its financial report filed to the exchange on Thursday, the company said revenues for the April-June period reached P43.23 billion, up nearly 20% from P36.04 billion in the same period last year.

In the first semester, RRHI’s attributable net income increased by 64.1% to P2.74 billion from P1.67 billion in the same period last year.

Year-to-date revenues increased by 15.4% to P82.94 billion from P71.86 billion in the same period last year.

RRHI reported net sales of P82.37 billion in the first half, up 15.3% compared with the P71.45 billion recorded in the period last year.

The supermarket division’s sales were recorded at P46.71 billion, accounting for 57% of the company’s net sales for the period, followed by the drug store division, with sales at P13.99 billion.

On Thursday, shares in the company inched up by 3.52% or P2.10 to finish at P61.70 apiece on the stock exchange.

Stuff to do (08/12/22)

PHOTO FROM FACEBOOK.COM/NHCP1933

History books for sale

THE NATIONAL Quincentennial Committee has released books about the Philippines’ participation in the first circumnavigation of the world. The books are Pigafetta’s Philippine Picnic (P200), 1521 Revisited (P300), and Fernando Oliveira’s The Voyage of Ferdinand Magellan (P250). These books are available at the National Historical Commission of the Philippines (NHCP) Central Office with a 10% discount. In Cebu City, there is an ongoing NHCP Book Sale at the Cebu City’s Rizal Memorial Library and Museum. For more information, visit the National Historical Commission of the Philippines’ Facebook page. 


Tan-aw Mindanaw film fest at Cinematheque Centers

KNOW MORE about the places, culture, and stories of Mindanao through films by award-winning directors Brilliante Mendoza, National Artist for Film Kidlat Tahimik, and Mindanaoan filmmaker Arbi Barbarona. Featured films in the Tan-aw Mindanaw festival, also called the Kadayawan Film Festival, are Ang Lakaran ni Kabunyan, Thy Womb, Mindanao, and The Highest Peak. The films will be screened at the Film Development Council of the Philippines’ Cinematheque Centre, 855 Kalaw Ave., Ermita, Manila. For the complete schedule and to reserve slots for the screenings, visit https://bit.ly/CCMTanAwMindanaw.


Araneta City holds 3-day sale

BEAT THE rainy-day blues with shopping discounts of up to 70% and a chance to see one of the most popular P-pop groups in the country live during Araneta City’s Three-Day Sale from Aug. 12 to 14. P-Pop boy group 1st. One  will perform live during a meet-and-greet with fans on Aug. 13. To join the meet-and-greet, present a same-day, single-receipt purchase worth P500 from any establishment within Araneta City during the registration period, which is from noon to 4 p.m. Admission is given on a first-come, first-served basis. For more information, visit www.aranetacity.com


Exhibits, talks at Cinemalaya 18

FIVE exhibitions are part of the ongoing Cinemalaya Philippine Independent Film Festival at the Cultural Center of the Philippines (CCP). They are: theCinemalaya 18 Competition Films Exhibit” (at the Little Theater Lobby) which showcases memorabilia and behind-the-scenes’ images from the 11 full-length films and 12 short films in this year’s competition; “Cinemalaya 18 Festival Posters Exhibit” (2nd Floor Hallway Gallery), which displays the film posters for the Cinemalaya 18 Main Competition, Retrospective Shorts section, Tribute, and “34th Gawad Alternatibo”; an exhibit highlighting the recently conferred National Artists for Film and Broadcast Arts Nora Aunor, Marilou Diaz-Abaya, and Ricardo “Ricky” Lee (3rd Floor Hallway Gallery) featuring images from films they were involved with including Himala (1982), Brutal (1980), Moral (1982), and Karnal (1983); theCinemalaya Filmmakers’ Images Exhibit” (Main Gallery) which presents portraits of filmmakers who have joined the competition since 2005; and, “Cinemalaya 18 Filmmakers’ Portraits” (Main Theater Lobby), featuring portraits taken by Idan Cruz, better known as actor John Lloyd Cruz. Meanwhile, to be held on Aug. 12 and 13 is Cinemalaya Konek, a venue for filmmakers to interact, network and connect with film industry players. There are three activities: Interaction/Panel Discussion, Networking + Filmmakers Night, and Business Matching. The first activity, has two parts, Konek 1: Film Producing in Cinema and Streaming Platform where film producers Alemberg Ang, Ida Del Mundo, and Daphne Chiu will discuss their process, inspirations, and motivations in producing films, and Konek 2: Filmmaking and Film Programming for International Festivals where Cinemalaya jury members Frederic Auburtin, Makiko Wakai, and Madonna Tarrayo will share their experiences in filmmaking, programming, and participation in international festivals. Business Matching will take place on Aug. 12, from 10 a.m. to 5 p.m. and on Aug. 13, from 10 a.m. to 1:30 p.m. at CCP Cinemalaya Tent. Cinemalaya Konek is a fringe activity of the 18th Cinemalaya Philippine Independent Film Festival which is ongoing at the CCP until Aug. 14.

Phoenix reports P201-M net income

PHOENIXFUELS.PH

PHOENIX Petroleum Philippines, Inc. announced on Thursday a net income of P201 million in the second quarter, describing the gains as “its highest since the onset of the pandemic.”

“We had a difficult start this year, but we’ve gained some traction, and are seeing favorable results from our strategies. Improved margins and our sustained prudence are paying off, and we are in a better position to cultivate growth as the market further recovers,” said Phoenix President Henry Albert R. Fadullon in a press release.

The oil company did not include a comparative income figure from last year but it previously reported a net income after tax of P131.84 million for the second quarter of 2021.

Phoenix said it returned to profitability during the second quarter after recording gains from its overseas businesses and continued operating expense discipline.

In the first quarter, it reported a net loss of P262.68 million.

The company said it benefited from streamlining its operations and maximizing efficiency across the business as its operating expenses were lower by 10% quarter on quarter.

“We are glad to emerge from the second quarter stronger and are more determined to stay on the path to recovery. With the economy opening up, we are focused on improved inventory strategies and continued cost discipline to sustain our upward momentum,”  Mr. Fadullon said.

The company also said that it continues to benefit “from its diversified portfolio of offers and markets.”

“The weakness on the domestic front has been made up for by its overseas business, which accounted for about 69% of consolidated volume in the second quarter,” it said in the media release.

Phoenix said that it continued to advance resource management initiatives and operational improvements while developing a new supply model “to navigate through the persistent volatility in the markets and foreign exchange.”

However, increases in the inventory costs and working capital limitations affected domestic fuels, it said, adding that rising selling prices in liquefied petroleum gas as well as higher inflation have resulted in soft demand for the product.

On Thursday, shares in the company slipped by P0.19 or 2.02% to finish at P9.20 each. — Ashley Erika O. Jose

ADVERTISEMENT
ADVERTISEMENT