Alliance Global Group Inc., the holding company of billionaire Andrew Tan, said Monday net income jumped 21 percent in the first quarter to P4.4 billion from P3.6 billion in the same period last year boosted by the positive performance of its core real estate and liquor businesses.
AGI said in a disclosure to the stock exchange first-quarter consolidated revenues climbed 19 percent to P41 billion from P34.4 billion.
“Our much-improved performance is a testament to our strong brand equity across all our business segments. We will continue to offer our premium products and excellent services to the market as we remain optimistic of the opportunities that lie ahead,” said AGI chief executive Kevin Tan.
“We are mindful of the challenges in the external environment, but we will strive to work harder to sustain such good results,” Tan said.
Megaworld Corp., AGI’s property arm, reported attributable net income of P3.8 billion in the first quarter, reflecting a 16-percent growth from P3.3 billion a year ago.
Consolidated revenues went up by 15 percent to P14.9 billion, on sustained growth in rental revenues and residential sales.
Travellers International, the owner and operator of Resorts World Manila, reported a 45.2-percent decline in first-quarter net income to P243.4 million. Gross gaming revenues rose 54 percent while hotel revenues rose 63 percent with the recent opening of Hilton Manila Hotel and Sheraton Manila Hotel.
Liquor firm Emperador Inc. registered attributable net income of P1.7 billion in the first quarter, up 10 percent from last year’s P1.6 billion as revenues rose 13 percent to P11 billion.
Golden Arches Development Corp. which holds the exclusive franchise to operate McDonald’s restaurants in the Philippines booked a net income of P383 million, up 16 percent from P329 million the year before. Revenues also went up by 13 percent to P7.5 billion, supported by healthy same-store sales growth of 4.8 percent and new store additions.
GADC’s total number of stores reached 633 as of end-March.
“We always need to keep our products and services relevant amidst the changing times. That way, we promote our brand equity to keep our products and services at top of mind of our various publics,” Tan said.
