A. Soriano Corporation Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 01:28 am EST
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A. Soriano Corporation announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was PHP 1,514.537 million compared to PHP 1,689.062 million a year ago. Net loss was PHP 302.868 million compared to PHP 384.689 million a year ago. Basic loss per share from continuing operations was PHP 0.25 compared to PHP 0.32 a year ago. For the nine months, total revenue was PHP 3,279.856 million compared to PHP 7,855.553 million a year ago. Net loss was PHP 1,299.935 million compared to net income of PHP 1,559.409 million a year ago. Basic loss per share from continuing operations was PHP 1.06 compared to basic earnings per share from continuing operations of PHP 1.31 a year ago.
A. Soriano Corporation is a Philippines-based holding company with diverse investments. The Companyâs core operating investments include Phelps Dodge Philippines Energy Products Corporation and Seven Seas Resorts and Leisure, Inc. The Company has three segments. Holding company segment pertains to the operations of the Company. Resort operations segment pertains to the Companyâs subsidiary providing hotel and resort accommodation, relaxation and entertainment, among others, while villa development includes the sale of villa lots, construction of structures and setting up of furniture, fixtures and equipment. Cable and Wire Manufacturing segment pertains to the Companyâs subsidiaries engaged in manufacturing, importing, exporting, buying, selling or otherwise dealing in, at wholesale, goods, such as building wires, power cables, aluminum wires and cables, copper rods, automotive wires and other energy-related goods of electrical nature.