Alliance Global profit in H1 surged 44% to P8.3BBy Doris C. Dumlao
Philippine Daily Inquirer
Alliance Global Group Inc. of billionaire Andrew Tan grew its six-month net profit by 44 percent year-on-year to P8.26 billion as its property development, liquor, integrated tourism and fast-food operations all delivered double-digit earnings growth.
Including earnings attributable to minority interest, total first semester net profit amounted to P11.26 billion, 34 percent higher than the level a year ago.
“All our major businesses continue to perform well within our expectations. We are confident that we can sustain our robust growth for the rest of the year,” said Tan, who sits as AGI chair.
The growth of the conglomerate was led by its main subsidiaries Emperador Distillers Inc., Megaworld Corp. and Travellers International Hotel Group Inc., which collectively contributed 81 percent of the P8.26-billion earnings.
Megaworld contributed around 35 percent of AGI’s net income and about 28 percent to group-wide revenue. Its net profit amounted to P4.25 billion in the first half, 15 percent higher year-on-year.
Beverage arm Emperador posted a 35-percent year-on-year jump in first semester net profit to P3.17 billion. This was on the back of a 20-percent growth in total revenues to P13.86 billion from a year ago.
The liquor company produces Emperador Gold and Emperador Light brandies and a line of flavored alcoholic beverages called The Bar. It recently introduced Emperador Deluxe, which is bottled in Spain. AGI attributed Emperador’s growth to increased sales of the world’s best-selling brandy, Emperador.
This brand sold over 31 million cases last year, most of which were Emperador Light.
Leisure estate and gaming unit Travellers posted a 25-percent growth in six-month net profit to P2.31 billion on the back of a 24-percent growth in revenues to P19.12 billion.
Travellers operates Resorts World Manila, the first integrated tourism estate in the country, which is across from Terminal 3 of the Ninoy Aquino International Airport in Pasay City.
Global-Estate Resorts Inc. (Geri) and Golden Arches Development Corp. (GADC), also delivered double-digit bottom line growth rates of 25 percent and 47 percent, respectively, in the first six months versus the same period last year.
Geri and GADC likewise grew their six-month revenues by 13 percent and 12 percent, respectively.
GADC operates a quick service restaurant business under the McDonald’s brand.
Short URL: http://business.inquirer.net/?p=138295