Belle Corp. profit grows 13% to P3.5B

- cent IN 2017 driven by strong growth in its gaming business revenue.

In a disclosure on Friday said consolidated net income increased to P3.5 billion last year compared to P3.1 billion in 2016.

Revenues surged 27 percent to P8 billion versus the P6.3 billion recorded in 2016.

Recurring net income, excluding capital gains on sales of non-core investment and extraordinary items, climbed 58 percent to P3.3 billion from the previous P2.1 billion.

- nancial performance on the growth of Manila, which soared 59 percent to P2.6 billion from P1.6 billion in 2016.

The group’s real estate business also boosted its full-year results, achieving P3.1 billion in revenues, up 10 percent from 2016’s P2.8 billion.

Of the P3.2 billion in real estate revenues, P2.3 billion came from its lease to Melco Resorts and Entertainment (Philippines) and Corporation (Melco) of the land and buildings Another P823 million came from its real estate sales and property management activities at its Tagaytay Highlands and Tgaytay Midlands residential and leisure complexes.

- ing on the leisure market. Its principal assets include land and buildings at the Pagcor Entertainment City in Parañaque City, which are being leased on a long-term basis to Melco Crown Entertainment Philippines. It in and around Tagaytay City.