City of Dreams Manila powers Premium Leisure’s Q2 net income

Philippine-listed gaming company Premium Leisure Corp. (PLC) doubles its earnings in the second quarter, thanks to the strong performance of City of Dreams Manila.

In a filing before the Philippine Stock Exchange, PLC reported a net income of PHP 470.25 million (US$9.29 million) during the April to June 2017 period, 104 percent higher than the PHP230.93 million (US$4.56 million) it posted in the previous year.

Gross revenues likewise surged by 55% to P1.25 billion (US$24.71 million) during the second quarter, from P809.29 million a year ago.

The second quarter figures also lifted PLC’s attributable net income for the first six months of 2017 to P895.21 million (US$17.69 million) – that’s  153% higher than the P353.06 million (US$6.98 million) a year ago. Revenues also jumped 58% to P2.52 billion, from P1.59 billion during the same period last year.