Investors eye pay-off from PH Resorts dealhome/Business/Stock Watch/Investors eye pay-off from PH Resorts dealBusinessman Dennis Uy’s acquisition binge has made his target firms speculative plays and PH Resorts Group Holdings, Inc. is no exception, with development dished out to the market sending its share price moving. “Dennis Uy’s share acquisition on PH Resorts Group Holdings solidifies his entry into the tourism space which opens up a lot of opportunities for him and for PH Resorts,” Philstocks Financial Inc. research associate Japhet Tantiangco noted. “With the entry of [Dennis Uy firm] into PH Resorts, investors are expecting the latter to be a competent player in the tourism industry in the long run,” he continued. PH Resorts, previously known as Philippine H2O Ventures Corp., changed to its current name and primary business purpose — from water service to hotel and entertainment — in line with Uy’s foray into the tourism business. PH Resorts’ nine-month net income dipped 38 percent to P16.06 million from P25.90 million a year ago after incurring a deficit of P6.71 million in third quarter mainly due to loss from continuing operations.

Source: Manila Times December 30, 2018 16:28 UTC