Alliance Global nets P7.9 billion in first half of 2018

MANILA, Philippines — Alliance Global Group Inc. (AGI), the investment holding company of tycoon Andrew Tan, grew its consolidated net income by 17 percent to P7.9 billion in the first half of the year.

This was on the back of a nine percent growth in revenues to P73.2 billion.

“All of the group’s major subsidiaries delivered strong topline and bottomline results, reflecting the improving outlook in their respective business segments,” said AGI chief executive officer Kevin Tan.

The AGI Group’s businesses include real estate through Megaworld Corp., liquor through subsidiary Emperador, gaming and leisure operations under Travellers International Hotel Group, quick service restaurants under Golden Arches Development Corp., and infrastructure through Infracorp Development Inc.

“We have consistently grown our reliable sources of income and have improved our operating leverage. All of these should support us as we navigate the challenging economic environment moving forward,” said Tan.

Megaworld, grew its net income by 13 percent to P7.3 billion while Emperador, the world’s largest brandy company, hiked its net income by 18 percent to P3.3 billion.

Travellers International, owner and operator of Resorts World Manila (RWM), reported a net income of P1.7 billion compared to P375 million a year ago.

GADC, which holds the exclusive franchise of McDonald’s in the Philippines,  meanwhile, maintained its robust earnings trajectory with its profit up by 26 percent to P741 million. This came on the back of a strong 11 percent expansion in sales revenues to P13.5 billion as same-store sales growth increased by 5.7 percent.

GADC likewise continued to expand, bringing the total of its stores to 585 by the end of June from 566 in 2017.