MANILA -- Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, booked a 23-percent increase in net income in the first nine months of 2018, driven mainly by its real estate and liquor businesses.
AGI on Wednesday reported to the local bourse its consolidated net income reached PHP18.6 billion in January to September from PHP15.2 billion last year.
Its consolidated revenues also surged by 12 percent to PHP112.1 billion from PHP100.3 billion.
“We recognize the many exciting opportunities in the market, both domestic and international, as we continue to pursue our aggressive expansion program with an investment commitment of PHP240 billion up to 2020. At the same time, we intend to manage our costs and keep our gearing levels low as we remain vigilant of the global economic headwinds,” AGI chief executive officer Kevin Tan said.
Megaworld Corporation recorded an attributable net income of PHP11.3 billion in the first nine months of 2018, up 13 percent from the PHP10-billion profit posted a year before.
The property firm got a major boost from the marked growth in rentals and development revenues, which brought its consolidated top line to PHP41.8 billion, a 13-percent increase from PHP37.1 billion last year.
Emperador, the world’s largest brandy company and owner of the fifth largest Scotch whisky manufacturer in the world, grew its attributable net income by 16 percent to PHP5.1 billion from PHP4.4 billion.
Travellers International, owner and operator of Resorts World Manila (RWM), posted attributable net income of PHP1.8 billion during the nine-month period this year, a reversal from a net loss of PHP34 million last year, following the deadly rampage of a lone gunman in its casino.
Golden Arches Development Corporation (GADC), which holds the exclusive franchise of McDonald’s in the Philippines, reported a slight 3-percent increase in attributable profit to PHP991 million from PHP966 million a year before.
GADC continued to expand its number of stores, which totaled 603 by end-September, compared to 566 stores in 2017. (PNA)
