Alliance Global nets P11.3B in H1

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ALLIANCE Global Group Inc. (AGI) reported a slight dip in first-half net income to P11.34 billion, flat from P11.48 billion a year ago.

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But first-half revenues grew 2.5 percent year-on-year to P67.07 billion, the company said.

Its property subsidiary Megaworld Corp. contributed P6 billion or a 52.9 percent share to the group’s net income, followed by brandy maker Emperador Inc. with 30.16 percent or P3.42 billion.

Resorts operator Travellers International Hotel Group Inc. contributed 15.84 percent or P1.79 billion to net income, followed by fast food operator Green Arches Development Corp. (GADC) with 4.38 percent or P497 million.

For the second-quarter period, AGI said net income grew 3 percent from a year ago to P6.08 billion and revenues also grew by 3 percent to P34 billion.

“Amidst intensifying competition, we continue to build on our strengths while maintaining our cost efficiencies. That way, we achieve operating leverage as we execute our growth strategies for our domestic and international operations,” Kingson U. Sian, AGI president and chief operating officer, said in a statement.

AGI holds Andrew Tan’s businesses in property development (Megaworld); food and beverage manufacture and distribution (Emperador); quick-service restaurants via McDonald’s franchise (GADC); and integrated tourism development businesses (Travellers).

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