Alliance Global Group Inc., the holding company of billionaire Andrew Tan, said Thursday net income attributable to common shareholders climbed 6 percent in 2016 to P14.8 billion from a year ago, on improved operating efficiencies across all subsidiaries.
AGI said in a disclosure to the stock exchange consolidated revenues were flat at P139.7 billion last year, while reported net income climbed 5 percent to P22.8 billion from P21.7 billion in 2015.
“Since about three to four years ago, the group has made a deliberate effort to significantly raise our level of spending to expand our geographic footprint both here and abroad, and ensure a more sustainable growth in future earnings,” AGI president Kingson Sian said.
AGI has investments in real estate, gaming, liquor and fast-food sectors.
Megaworld Corp., the group’s property unit, now has 22 mixed-use developments all over the Philippines, spanning about 3,700 hectares. It expanded its office and commercial leasing businesses which now contribute about half of operating profit, providing the company with earnings stability.
Emperador’s flagship product, Emperador Brandy, is being marketed in 51 countries, making its way to become a global brand.
This followed the acquisition of Whyte and Mackay in 2014 and Bodegas Fundador in 2015, which added quality and well-known Scottish whisky brands and Spanish brandy products in the portfolio, as well as access to over 100 markets across the globe.
Travellers International’s Resorts World Manila maintained its position as a popular tourist destination with its diversified non-gaming amenities and attractive entertainment offerings.
Golden Arches Development Corp., which holds the exclusive franchise to operate restaurants in the Philippines under the “McDonald’s” brand, aggressively expanded its stores nationwide, providing a significant boost to profitability.
GADC posted record 2016 revenues and profit of P22.6 billion and P1.2 billion, respectively. The robust growth in earnings was fueled by a 7-percent increase in systemwide same-store-sales growth, cost efficiencies and ongoing store expansion.
The company ended the year with520 operating stores. “Despite our aggressive expansion strategy, our balance sheet remains healthy and financial gearing still very comfortable, with much room to take on new opportunities that may come our way,” Sian said.