Alliance Global net profit jumps 18%
Tycoon Andrew Tan-led Alliance Global Group Inc. (AGI) grew its net profit in the first nine months by 18 percent to P12.1 billion on higher earnings across its property, liquor and fast-food businesses while the integrated gaming returned to profitability.
Including earnings attributable to minority interest, nine-month net profit increased by 23 percent year-on-year to P18.6 billion as consolidated revenues expanded by 12 percent year-on-year to P112.1 billion.
“We are inspired by the group’s strong performance and we will continue to work very hard to deliver good results across all our business segments moving forward,” AGI chief executive officer Kevin Tan said in a statement.
Property arm Megaworld Corp. chalked up an attributable net income of P11.3 billion in nine months, up by 13 percent on higher earnings from its rental/development portfolio.
Emperador, the world’s biggest brandy company and owner of the fifth largest Scotch whisky manufacturer in the world, saw a 16-percent increase in attributable net income to P5.1 billion.
Travellers International, owner and operator of Resorts World Manila (RWM), registered an attributable net income of P1.8 billion during the nine-month period, a turnaround from a net loss of P34 million the previous year.
Gross gaming revenues rose by 7 percent to P13.8 billion during the period.
Golden Arches Development Corp., which holds the exclusive franchise of McDonald’s, reported an attributable net income of P991 million in nine months, up 3 percent.
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