Close  

Alliance Global net profit jumps 18%

/ 05:30 AM November 15, 2018

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.

ADVERTISEMENT

“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.

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Alliance Global Group Inc. (AGI), Andrew Tan, net profit
For feedback, complaints, or inquiries, contact us.
newsinfo

‘Ondoy’ victims closer to owning lots

September 23, 2019 03:14 AM

newsinfo

Suspected thief killed in shootout with Marikina police

September 23, 2019 03:13 AM

newsinfo

Dar: Loss of forests should worry farmers

September 23, 2019 03:04 AM

newsinfo

Who got P35-M bounty for killers of Batocabe?

September 23, 2019 03:00 AM



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.