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Manila Bulletin devider Business devider The Stock Market devider DoubleDragon profit falls 27% in H1 on one-time gain comparison

DoubleDragon profit falls 27% in H1 on one-time gain comparison

Published Aug 21, 2026 01:59 pm
Property and retail conglomerate DoubleDragon Corp. reported a 27.5 percent drop in consolidated net income to ₱1.7 billion for the first six months of the year from ₱2.4 billion in the same period last year due to higher expenses and the absence of one-time gains.
Based on its financial statement, DoubleDragon reported that lower earnings stem mainly from the absence of unrealized gains on changes in the fair value of investment properties this year compared to the first semester of 2025.
The company’s consolidated income before tax for the first half of 2026 fell 28.6 percent to ₱2.2 billion from ₱3.1 billion recorded a year ago. This was primarily driven by higher general and administrative expenses, alongside stock compensation costs related to HBNB (Hotel101 Global listed on Nasdaq) shares issued to group employees.
However, DoubleDragon's consolidated core income surged 161.89 percent to ₱2.4 billion from ₱922.1 million, bolstered by strong growth in rental income and real estate sales.
Consolidated revenues for the first half of 2026 reached ₱8.55 billion, up 23 percent year-on-year, as core revenues jumped 70.2 percent during the six-month period.
Core revenues continue to accelerate as the company transitions away from fair value gains toward recurring operating revenue, driven by newly completed investment and leasing properties coming online.
“Full shift to core revenues is expected by 2028 onwards,” DoubleDragon said in a disclosure to the Philippine Stock Exchange.
In the second half of 2026, DoubleDragon is set to open three new CityMall community malls, two CentralHub warehouse complexes, five full-sized MerryMart supermarkets, and three Hotel101 properties in Davao, Cebu, and Niseko, Hokkaido, Japan.
“DD has generated a significant increase in its core revenues and core income, and expects an even higher jump in core revenues by the second half of 2026. This will be driven by continued income from its leasing portfolio, new mall openings, new warehouses, new office tenants, new MerryMart supermarkets, and expected unit sales from Hotel101 projects in the Philippines and overseas,” the firm added.
On June 24, 2026, DoubleDragon completed the acquisition of a 98.61 percent stake in MerryMart Consumer Corp., further accelerating its transition into an investment holding company.

Related Tags

DoubleDragon Corporation Hotel101 Global Holdings Corporation MerryMart Consumer Corp.
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