• Alliance Global Group 2013 profit hits record P23B

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    The Andrew Tan-led Alliance Global Group Inc. (AGI) posted a record profit of P23 billion in 2013, the bulk of which came from income by its real estate and liquor businesses.

    The profit figure was up almost 13 percent from P20.5 billion achieved in 2012, it said.

    Net income attributable to AGI shareholders reached P17.2 billion last year, up about 24 percent from the P13.9 billion posted in 2012.

    AGI reported the figures in a filing with the Philippine Stock Exchange on Wednesday.

    Consolidated revenues grew to P123.4 billion, rising 21 percent year-on-year from P102.1 billion.

    “We are elated that the group continues to show robust financial performance. We believe that all the ongoing expansion happening at the major subsidiaries of AGI will provide the impetus for sustained growth in the long run,” said Kingson Sian, president and chief operating officer.

    Earnings from majority-owned Emperador Inc. totaled P5.3 billion, while Megaworld, also majority-owned by AGI, earned a further P5.3 billion.

    Emperador Inc., through its wholly-owned subsidiary Emperador Distillers Inc. (EDI), managed to sell 2 million more cases of Emperador products, mostly brandy, bringing full-year volume to 33 million cases.

    Meanwhile, Megaworld’s performance was driven by stronger residential sales and higher leasing income from its office and retail portfolio. In total, Megaworld and its two major subsidiaries, Empire East and Suntrust, launched a total of 18 projects last year.

    According to AGI, its overall growth was led by subsidiaries Emperador Inc., Megaworld Corp., Travellers International Hotel Group Inc., Golden Arches Development Corp. (GADC) and Global-Estate Resorts Inc. (GERI).

    Travellers accounted for almost P1.2 billion; GADC and GERI contributed P387 million and P224 million, respectively.

    As of end-2013, total assets were up by 22 percent at P332.4 billion from P272.2 billion as of end-2012.

    The increase can be attributed to operations, borrowings and the stock offerings of Emperador Inc. and Travellers International.

    Travellers, on the other hand, had higher revenues on the back of an increase in gaming volume and higher hotel occupancy rates, while GADC’s opening of 37 new McDonald’s restaurants, re-imaging of some existing restaurants, introduction of a new product, and advertising campaigns all contributed to its growth last year.

    Also, GERI’s real estate sales and hotel operations were driven by projects in Boracay and Tagaytay.

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