Alliance Global 9-mo profit down 8%

Tycoon Andrew Tan-led conglomerate Alliance Global Group saw an 8-percent decline in its nine month net profit attributable to equity holders of parent to P10.2 billion on slower earnings contribution from its liquor and integrated gaming resort businesses.

Liquor arm Emperador Inc. posted a 9.7-percent year-on-year drop in nine-month net profit to P4.44 billion given a high base in the first half of 2016 due to the extraordinary boost from the presidential elections. In the third quarter of 2017, net profit grew 18 percent year-on-year to P1.7 billion.

Travellers International Hotel Group incurred a net loss of P34.13 million in the first nine months, a reversal of the P2.98 billion net profit a year ago. In the third quarter, net loss hit P408.9 million versus a net profit of P1.18 billion a year ago.

Resorts World Manila’s casino was non-operational for 27 days following the rampage on June 2 by a gunman, who also set on fire the casino.

Travellers’ gross gaming revenue fell to P12.8 billion in the first nine months from P18 billion a year ago.
Fast-food arm Golden Arches Development Corp. (GADC) – which holds the exclusive franchise to operate restaurants in the Philippines under the “McDonald’s” brand – reported a net income of P977 million, up 19 percent year-on-year.—DORIS DUMLAO-ABADILLA