By Zinnia B. Dela Peña (The Philippine
Star) Updated June 14, 2012 12:00 AM
MANILA, Philippines - Boulevard
Holdings Inc. said sales grew 12 percent in its fiscal year ending May 31 this
year.
In a disclosure to the Philippine
Stock Exchange, BHI said the growth was driven by a strong 23 percent surge in
sales last month.
A decline in tourist arrivals from
Europe, owing to the protracted crisis in the region, has affected the
operations of subsidiary Friday’s Boracay Island in Aklan.
Net income through its first three
fiscal quarters inched up 3.5 percent to P6.14 million, translating to earnings
per share of P0.00037.
Aside from Friday’s, BHI also owns
Crown One Land Inc. and Friday’s Puerto Galera in Mindoro.
The Panlilio family, which owns BHI,
is keen on reviving Puerto Azul, which was once dubbed as “Asia’s Paradise
Resort” and the “World’s Golfing Capital.”
Under its plan, BHI intends to build
11,563 residential units over a period of 20 to 25 years starting with 350
units of apartment residences. The resort component also involves the
development of hotels, golf courses, country club, marina, theme park, sports
and recreation facilities.
The plan also includes the renovation
of the existing 340-room hotel and the development of an 80-room boutique hotel
and 150-room grand convention hotel.
BHI, through a subsidiary, acquired a
353,810 square meter property in Moalboal, Cebu for P707.62 million.
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