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Bloomberry Resorts profit misses consensus by 90.2% in Q1

Bloomberry Resorts Corp. said its normalized net income for the first quarter came to 85.3 million pesos, a decrease of 90.6% from 911.8 million pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 1.3% from 15.3% in the year-earlier period.

Total revenue grew 5.9% on an annual basis to 6.33 billion pesos from 5.98 billion pesos, and total operating expenses rose 27.4% from the prior-year period to 5.75 billion pesos from 4.51 billion pesos.

Reported net income came to a loss of 529.8 million pesos, or a loss of 5 centavos per share, compared to income of 1.46 billion pesos, or 14 centavos per share, in the year-earlier period.

As of April 30, US$1 was equivalent to 44.57 Philippine pesos.