BELLE Corp. reported a 26-percent increase in consolidated net income in the first nine months of 2026, supported by higher revenues and lower financing costs following a significant reduction in outstanding debt.
In a quarterly report filed with the Securities and Exchange Commission, the property and gaming firm said it posted consolidated net income of P1.66 billion for the January-to-September period, up from P1.32 billion in the same period last year.
Consolidated revenues climbed 11 percent to P4.32 billion from P3.88 billion a year earlier, while income from operations increased 13 percent to P1.97 billion from P1.74 billion.
Belle attributed the improvement in earnings to increased revenues, complemented by lower financing costs.
Interest expense and other financing charges declined 30 percent to P358.05 million from P510.51 million the previous year, following a 54-percent reduction in the company’s outstanding debt to P3.10 billion as of Sept. 30, from P6.75 billion a year earlier.
Among its revenue streams, equipment rental recorded the strongest growth, rising 59 percent to P617.31 million from P388.39 million. This was mainly generated by its subsidiary Pacific Online Systems Corp. through its 50-percent-owned joint venture PinoyLotto Technologies Corp.
Gaming revenue share from City of Dreams Manila, through its subsidiary Premium Leisure Corp., grew 13 percent in the nine months to P1.48 billion from P1.32 billion.
Lease income was relatively steady at P1.77 billion from P1.76 billion last year. Revenue from distribution utilities increased 16 percent to P212.75 million, while revenue from the sale of real estate grew 46 percent to P181.17 million.
Meanwhile, total costs and expenses increased 10 percent to P2.35 billion from P2.14 billion, reflecting higher operating costs across several business segments.
Belle said total assets stood at P51.93 billion as of Sept. 30, down five percent from P54.42 billion at the end of 2025, while total liabilities declined 19 percent to P11.73 billion. Total equity increased one percent to P40.20 billion, with the company reporting P2.64 billion in cash and cash equivalents at the end of September.
The company said its consolidated debt amounting to P3.1 billion as of Sept. 30 consisted of amortizing term loans from banks, adding that it did not foresee cash flow or liquidity problems over the next 12 months.
Belle is majority owned by the Sy family through SM Investments Corp. and related family holdings.
The company’s shares on Friday dropped P0.06, or 5.13 percent, to close at P1.11 each.
