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MRSGI failed to match revenue decline with cost cuts
Metro Retail Stores Group (MRSGI) saw its revenue declined by 5.6 Billion Pesos to 31.4 Billion Pesos in 2020. To match the revenue decline MRSGI cut its costs from 36 Billion Pesos in 2019 to just 31.7 Billion Pesos in 2020. However, the cost cuts were not enough resulting to an operating loss of 301.5Continue reading “MRSGI failed to match revenue decline with cost cuts”
PSE a debt-free platform business trades 18% down from its 52-week high
The Philippine Stock Exchange is the only stock exchange operator in the country. The stock exchange operator has proven itself resilient to the effects of the pandemic. Its revenue rose to 1,314 Million in 2020 from 1,290 Million in 2019. It was feared that trading volume in the PSE will dip as pandemic caused slowdownContinue reading “PSE a debt-free platform business trades 18% down from its 52-week high”
HOUSE facing 23.2B debt repayment hires new external auditor
8990 Holdings (HOUSE) disclosed on 26 February 2021 that it has appointed Ramon F. Garcia & Company as its new independent external auditor for the fiscal year 2020. Ramon F. Garcia & Company replaced Punongbayan & Araullo as HOUSE’s independent external auditor. HOUSE said that the change in external auditor was made in pursuance toContinue reading “HOUSE facing 23.2B debt repayment hires new external auditor”
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