Alliance Global Group Inc. of billionaire Andrew Tan said consolidated revenues surged 17 percent in the first nine months to P128.4 billion from P110.1-billion in the same period last year.
The diversified conglomerate credited its healthy topline performance to the sustained improvement in mobility which benefitted its consumer and real estate businesses, supported by strong product positioning and aggressive marketing strategies.
Net income over the past three quarters reached P17.1 billion, while attributable profit stood at P11.9 billion, both little changed when compared with headline numbers the year before.
AGI said excluding over P5 billion in one-time gains booked last year by its leisure and entertainment unit, it should reflect a 23-percent year-on-year growth in normalized revenues, 46-percent jump in net income and 29-percent improvement in attributable profit.
“The group managed to sustain its strong core performance as our diversified portfolio continued to seize the various opportunities in the domestic and international markets despite the volatile macro environment. We have maintained our competitive position in all our business segments as we relied on our improved brand equity, aggressive and creative marketing strategies, and extensive distribution network,” said AGI chief executive Kevin Tan.
The conglomerate has varied interests spanning real estate developments through property giant Megaworld Corp.; leisure, entertainment and hospitality through Travellers International Hotel Group Inc.; spirits manufacturing through Emperador Inc.; quick service restaurants through Golden Arches Development Corp., popularly known as McDonald’s Philippines, which is a strategic partnership with the George Yang Group; and infrastructure development through Infracorp Development Corp.
Megaworld, the country’s premier township developer, reported a 12-percent year-on-year expansion in net income in the first nine months to P9.7-billion as consolidated revenues grew by 15 percdent to P42.5 billion.
Attributable profit rose 3 percent to P8.4 billion, weighed down by hefty unrealized foreign exchange losses. Real estate sales sustained its sequential growth during the period, hitting P26.2 billion in the first three quarters of the year, indicating an increase of 13 percent.
Reservation sales surged 58 percent to P86 billion, as take-up in the third quarter doubled from its year-ago level, with the peso’s weakness against the dollar helping push international sales.