Alliance Global Group Inc. (AGI), led by businessman Andrew Tan, reported a 39-percent year-on-year increase in net income to P19.2 billion in the first half of 2025.
The company attributed the growth to sustained domestic spending, which boosted its real estate and tourism-related businesses.
The first-half net income included a one-time gain of P3.4 billion from the deconsolidation of its quick service restaurant business, Golden Arches Development Corp. (GADC), the operator of McDonald’s Philippines. AGI now treats GADC as an associate company and retains a 49-percent stake.
Excluding the one-time items, AGI’s core net income was up 19 percent year-on-year to P15.1 billion.
“AGI delivered strong results in the first half of the year, benefiting from a buoyant domestic economy despite ongoing global uncertainty,” said AGI president and chief executive Kevin Tan.
“During this period, our group took advantage of pockets of opportunities in the market to boost our residential and retail sales, as well as our office take-up,” said Tan.
Tan also noted increased activities and occupancy in the company’s tourism and leisure segments, as well as a recovery in spirits sales. “Our strong performance was also accompanied by ongoing cost-efficiency measures,” he said.
Megaworld Corp., AGI’s real estate arm, remained the top contributor with revenues rising 10 percent to P43.1 billion.
Real estate sales increased by 9 percent to P27.1 billion, while income from its office rental business jumped 17 percent to P7.4 billion. Mall revenues rose 10 percent to P3.3 billion.
Liquor unit Emperador Inc. saw a 14 percent quarter-on-quarter increase in revenue to P15 billion in the second quarter.
The strong second quarter helped lift Emperador’s first-half consolidated revenue to P28.2 billion and its net income to owners to P3.9 billion.
Meanwhile, Travellers International, AGI’s tourism and gaming arm, more than doubled its attributable income to P217 million in the second quarter.
Revenues reached P9.2 billion, with gross gaming revenues contributing P7.5 billion. Hotel occupancy at Newport World Resorts stood at 90 percent.
