Belle attributes their growth to their involvement with the City of Dreams Manila, as well as sales of their real estate developments and club shares.
Belle Corporation recently made public their annual report for 2014, announcing operating revenues of Php 3.2 billion, a record they say surpassing a previous one of Php 2.7 billion in 1997. According to Belle, while last year's Php 2.6 billion consolidated net income is lower than Php 2013's Php 3.6 billion, the decrease is due to net non-recurring gains in 2013.
"If based on continuing operations only, its resulting 2014 net income of Php 1 billion would be another record, as it would be 81% greater than the comparable figure for 2013 of Php 572 million," Belle Corporation president Frederic C. DyBuncio explained.
DyBuncio also noted that Belle paid its first-ever cash dividend last year at two centavos per share or Php 211 million, saying "The main significance of this dividend was the signal that we sent to our shareholders that their long wait has paid off, and that they may expect continuing returns in the coming years."
According to the brand, their operating growth the previous year was the result of higher revenues from the lease agreements with the Melco Crown Group for the hotel and gaming development City of Dreams Manila at Php 1.6 million compared to Php 1.3 billion in 2013. The City of Dreams currently has 30 hectares of gross floor area, over 900 hotel rooms, over 2 hectares of gaming space, the Dreamplay indoor theme park, and the night clubs Pangaea and Chaos.
Belle Corp. also noted an increase in revenues from sales of real estate and club shares at Php 300 million from Php 175 million in 2013. Their residential and recreational complex Tagaytay Highlands in particular is expanding its subdivisions Lakeside Fairways and Saratoga Hills. Belle also notes that the complex has another 800 hectares of land that will be used for its future expansion.
Other contributing factors on the real estate side include their 109 million shares in SM Prime Holdings, Inc.
"Belle intends to make sure that its shareholders benefit from the significant cash flows and value creation expected from its interests in the recently opened City of Dreams Manila integrated resort and the continued development of its real estate assets," DyBuncio stated. "These stakeholders include not just Belle's shareholders and homeowners, but also the Philippine tourism industry as a whole."
Photos from cityofdreams.com.ph and tagaytayhighlands.com