LISTED Philippine Racing Club Inc. (PRCI) is planning to further expand its newly opened Cavite race track, even as it mulls over the future use of the now-closed track in Santa Ana Park in Makati City.

At the sidelines of the company’s shareholder’s meeting on Monday, president and chief executive officer Solomon Cua shared the firm’s plans to grow the 70-hectare Saddle & Clubs Leisure Park in Naic, Cavite, which started racing operations in January.

Owing to the “clamor” for more space, he said, near-term additions to the P1.15-billion track will include the addition of a second track, an inner track and increase in the number of horse stalls to hold 1,400 horses.

Despite the addition of the new track, which Solomon claimed could spur demand, he sees flat growth this year—owing to the effects of the global financial crisis.

“When people are hard up, the first thing you want to cut is your entertainment [expenses],” he said.

He said the company, which is involved in operating race tracks and managing betting stations across the country, started to feel the effects of the crisis last year when net income grew P12.2 million or 76-percent less than P52.13 million in 2008.

“We’re hoping this year, at the very least we maintain the figure of last year... but we will not be surprised if there is a slowdown as well because of the recession,” Cua pointed out.

LISTED canned tuna manufacturer Alliance Tuna International Inc. (ATII) is seeing a remarkable growth in its financial performance next year as it starts booking its operations in General Santos City.

At the sidelines of the company’s annual stockholders’ meeting on Monday, president and chief executive Jonathan Dee said they are anticipating good prospects from the General Santos-based business that would start in the second half.

ATII has bought a majority stake in Prime Foods New Zealand Ltd. to expand into other food products. The New Zealand-based company is into the processing, manufacturing and distributing smoked seafood under the Prime Smoke and Studholme brands for distribution in New Zealand and Australia.

The joint venture is leasing a facility in General Santos that can produce 2 metric tons of packed salmon a day. The products, said Dee, will be exported mainly to Hong Kong and Japan.

“The growth next year [of ATII] would be tremendous because we would start booking the Gen. Santos operations. Add to that is our Indonesian operations, whose shipments go to the US and Middle East,” Dee told reporters.

From January to April this year, ATII’s net sales amounted to $19 million, up 34 percent year-on-year.

PRIVATELY run The Medical City (TMC) posted a 24-percent or P544.7-million profit increase last year from P440.9 million in 2007, pushing executives of this health care institution to express confidence the company can continue growth prospects this year despite the effects of the global financial crisis.

In the first five months of operations this year, TMC already recorded a 10-percent growth in revenues, which translates to P100 million.

“With the initial 10-percent growth, we can meet our net income target by year-end, although in terms of revenue, we might be a little short because of recession effects and slight drop in patient admissions,” Margaret Bengzon, group head for strategic services of The Medical City told the BusinessMirror in an interview.

In 2008, earnings before income, tax, depreciation and amortization (a measure of the company’s profitability) posted a 26-percent growth, while after-tax profit increased by 13 percent.

Bengzon said the 2008, growth and this year’s financial aggressiveness are attributed to product innovation, quality improvement, institutional marketing, managing costs and putting up more satellite clinics.

She also cited future expansion and other developments as growth drivers for TMC.