Manila Jockey Club, Inc. Reports Parent and Consolidated Earnings Results for the Year Ended December 31, 2017
May 01, 2018 at 11:55 pm EDT
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Manila Jockey Club, Inc. reported parent and consolidated earnings results for the year ended December 31, 2017. For the year, on parent basis, the company reported total revenue of PHP 442,184,883 against PHP 411,068,854 a year ago. Income before tax was PHP 25,239,467 against PHP 30,278,476 a year ago. Net income was PHP 24,562,406 or PHP 0.0247 per basic and diluted share against PHP 21,486,712 or PHP 0.0216 per basic and diluted share a year ago. Net cash provided by operating activities was PHP 115,436,945 against PHP 10,075,807 a year ago. Acquisition of property and equipment was PHP 25,400,570 against PHP 20,605,855 a year ago.
For the year, on consolidated basis, the company reported total revenue of PHP 756,079,968 against PHP 535,217,172 a year ago. Loss before tax was PHP 108,487,394 against PHP 67,872,869 a year ago. Net loss attributable to equity holders of the parent company was PHP 115,358,594 or PHP 0.1198 per basic and diluted share against PHP 77,077,258 or PHP 0.0774 per basic and diluted share a year ago. Net cash used in operating activities was PHP 149,893,514 against PHP 41,495,404 a year ago. Acquisition of property and equipment was PHP 30,700,704 against PHP 34,000,742 a year ago.
Manila Jockey Club, Inc. is a Philippines-based company. The Company is engaged in the construction, operations and maintenance of a racetrack located in Cavite, Philippines and in the holding or conducting of horse races therein with betting both directly or indirectly by means of mechanical, electric and/or computerized totalizator. It conducts horse race betting operations, through more than 250 Off Track Betting (OTB) stations that are owned and franchised around the country, as well as from bets placed at its Turf Club. The Company is also engaged in the development and sale of condominium units and residential properties, and lease of an office building through joint venture (JV) arrangements with certain developers. It has various condominium and office towers at the San Lazaro Business and Tourism Park township in Santa Cruz, Manila, and from the suburban Canyon Ranch development located at the San Lazaro Leisure Park in Carmona, Cavite, in partnership with Century Properties.