LEISURE & RESORTS WORLD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND

OTHER COMPREHENSIVE INCOME

Period Ended March 31

2016 2015
REVENUES
Electronic bingo net P1,055,069,214 P765,024,478
Traditional bingo 579,318,855 500,201,814
Service and hosting fees 457,527,597 366,167,089
Income from junket operations 249,735,233 264,530,438
Rent income 77,128,060 27,429,561
Commission income 72,546,085 70,587,598
Rapid bingo 71,525,797 63,541,371
Compensation fee from a casino project 33,623,102 -
Share in gaming revenue of a casino project 16,966,416 15,277,161
Pull tabs 3,541,107 350,740
2,616,981,466 2,073,110,250

COSTS AND OPERATING EXPENSES

Franchise fees and taxes 1,135,595,528 877,111,399
Payouts - traditional bingo 396,547,508 380,561,268
Rent 163,742,499 129,972,047
Contracted services 105,346,037 96,888,063
Salaries and wages 153,076,375 98,258,929
Communications and utilities 73,337,900 52,695,305
Depreciation and amortization 73,739,728 36,310,722
Advertising and promotional activities 47,777,629 68,096,939
Professional and directors fees 30,981,002 11,545,365
Cards and supplies 28,368,467 25,254,014
Taxes and licenses 22,995,846 20,786,815
Others 49,332,324 68,416,322
2,280,840,845 1,865,897,189
OPERATING INCOME 336,140,623 207,213,062

OTHER INCOME (EXPENSES)

Finance expense (95,208,988) (68,047,042)
Finance income 71,982,713 51,592,813
Equity in net earnings of joint ventures and associates 47,856,653 92,594,180
Other income net 60,599,181 25,438,192
85,229,560 101,578,143

INCOME BEFORE INCOME TAX 421,370,182 308,791,204

INCOME TAX EXPENSE 52,938,663 28,079,424
NET INCOME P368,431,519 280,711,780

Attributable to:
Owners of the Parent Company 288,680,008 231,003,988
Non-controlling interest 79,751,511 49,707,792
P368,431,519 280,711,780

Basic Earnings Per Share P0.2432 P0.1951

Diluted Earnings Per Share P0.2279 P0.1828

See Notes to the Consolidated Financial Statements.