ALLIANCE Global Group Inc. (AGI), the holding firm of taipan Andrew Tan, reported net profit of P5.6 billion in the first three months of this year, slightly lower than the P6.25 billion recorded a year ago, as sales in its liquor and fast food business segments dipped.
On the other hand, AGI’s consolidated revenues rose 5 percent to P32.3 billion from a year earlier.
The company said its balance sheet was underpinned by total assets of P412 billion and cash of about P76 billion.
“Our consumer-centric businesses – real estate development, food and beverage manufacturing and distribution, integrated tourism development, and quick-service restaurants – all showed profitability in the first three months of this year. They all maintained their strong positions in their respective industries,” said Kingson U. Sian, AGI president and chief operating officer.
Property arm Megaworld Corp. increased its first quarter net income by 12.48 percent to P2.35 billion from P2.09 billion a year earlier driven by higher sales.
Liquor unit Emperador Inc. posted profit of P1.4 billion, down slightly from P1.7 billion last year, hurt by the higher liquor tax since the start of 2015.
Travellers International Hotel Group Inc., operator of integrated casino and entertainment complex Resorts World Manila, posted first quarter net income of P1.74 billion, little changed from P1.71 billion a year ago, amid tighter competition in the casino business.
McDonald’s franchisee Golden Arches Development Corp. (GADC) posted net income of P160 million, down from P171 million in the first quarter last year.
“Our companies are all paving the way for future growth that will ultimately increase shareholder value. Megaworld is building more townships this year. Our target is to have 20 township developments by the end of 2015,” Sian said.
“Emperador will have its busiest year so far with product launches in the offing. One product was launched last month and is now available in retail outlets, Smirnoff Mule, which is a blend of vodka, ginger beer and lime. Consumer response is positive and exciting,” the AGI chief said.
“Travellers continues to expand Resorts World Manila where the Marriott Grand Ballroom
– the largest ballroom in the country – just opened last month. Travellers will have more hotels, additional gaming area and retail space by the end of 2017. GADC, which holds the exclusive right to operate restaurants in the Philippines under the McDonald’s brand, is targeting to have 500 branches nationwide by the end of 2015,” he added.
Incorporated in 1993 and listed on the stock exchange in 1999, Alliance Global holds 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).