Close  

AGI net profit up 21 % in Q1 2019

/ 02:18 PM May 20, 2019

MANILA, Philippines – Tycoon Andrew Tan-led conglomerate Alliance Global Group Inc. (AGI) grew its attributable first quarter net profit by 21 percent year-on-year to P4.4 billion on higher earnings from its property development, liquor and fast-food businesses.

Consolidated revenues for the three-month period rose by 19 percent this year to P41 billion.

ADVERTISEMENT

Including earnings attributable to non-controlling interest, net profit went up by 16 percent year-on-year to P6.5 billion.

“Our much-improved performance is a testament to our strong brand equity across all our business segments.  We will continue to offer our premium products and excellent services to the market as we remain optimistic of the opportunities that lie ahead,” AGI chief executive officer Kevin Tan said in a disclosure to the Philippine Stock Exchange on Monday.

FEATURED STORIES

Property arm Megaworld Corp., beverage arm Emperador Inc. and fast-food unit Golden Arches Development Corp. (GADC) all grew first quarter net profit at a double-digit pace compared to the previous year, making up for the decline in the earnings of Travellers International Hotel Group Inc., whose operating expenses and financing costs surged with the opening of new hotel and gaming space in Resorts World Manila.

GADC – which holds the exclusive franchise to operate restaurants in the Philippines under the “McDonald’s” brand – boosted its attributable first quarter net profit by 16 percent year-on-year to P383 million. /g

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: AGI, Andrew Tan, Emperador, GADC, Megaworld
For feedback, complaints, or inquiries, contact us.
lifestyle

2019 Miss Earth beauties design bags for a cause

October 21, 2019 12:12 AM

entertainment

Aga’s passion is acting, but family is now his priority

October 21, 2019 12:04 AM

lifestyle

World’s oldest pearl found in Abu Dhabi

October 20, 2019 11:24 PM



© 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.