Emperador Inc. and Travellers International Hotel Holdings Inc. of tycoon Andrew Tan posted mixed first-quarter financial results.
Liquor unit Emperador said in a disclosure to the stock exchange net profit attributable to equity holders of parent company rose 10 percent in the first quarter of the year to P1.74 billion.
First-quarter revenues increased 13 percent to P11 billion on the strong sales performance of whisker and premium brandy products.
Tan’s gaming unit Travellers International Hotel Group Inc., meanwhile booked a net income of P243.4 million in the first quarter, down 45.2 percent from P444 million year-on-year.
TIHGI, which owns and operates Resorts World Manila, said net revenues increased by 46.5 percent to P6.89 billion in the first three months from P4.7 billion on year. The increase was driven by the continued improvement in revenues in both the gaming and non-gaming segments.