Connect with us

Hi, what are you looking for?

News

BHI Holdings’ profit down 49%

LISTED holding firm BHI Holdings, Inc.’s attributable net income declined by 49.2% to P210,794 in the third quarter after posting higher expenses on flat revenue.

The company’s interest income was almost flat at P756,176 in the quarter from P756,229 a year ago. BHI Holdings at present derives revenues from interest on loans.

Meanwhile, general and administrative expenses climbed to P515,900 in the third quarter, a 28.1% increase from last year’s P402,849.

In the three quarters of the year, attributable net income totaled P288,305, lower by 7.9% than P312,961 in the same period last year.

BHI Holdings’ topline climbed to P2.24 million in the nine months that ended September, a 28.8% jump from P1.74 million a year ago.

“This was primarily due to the interest income on loan and due to interest from [the] bank,” the company said in its report.

Its year-to-date expenses amounted to P1.92 million, 38.2% higher than the P1.39 gross expense in the previous year.

BHI Holdings is an investment holding company that targets to acquire equity plus interest in profitable corporations.

According to its latest annual report, the company “has no principal products or services because it has not decided as to what products or services it will introduce to the market.”

On the stock exchange on Tuesday, BHI Holdings shares closed unchanged at P662 apiece. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

UNSPLASH THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes...

News

MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

News

UNSPLASH END-OF-LIFE CARE will benefit from conversations about spirituality and the limits of the human body, according to a priest.   “If we want to...

News

A SCENE from Giacomo Puccini’s opera Turandot in Turkey AFTER a two-year hiatus, live opera returns to the Main Theater of the Cultural Center...

News

CEBU AIR, Inc. (CEB) said recent leadership changes in the company form part of its succession planning as it seeks continued growth and to...

News

MASS HOUSING developer Ovialand, Inc. has secured a P600-million loan facility from Security Bank Corp. for its expansion plans. Ovialand said in a press...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.