Emperador saves Megaworld from bathing in red ink in 2015
Bilyonaryo Andrew Tan’s holding firm Alliance Global Group Inc. grew its net income by 5.4 percent to P13.96 billion, mainly driven by higher revenues from its liquor business.
Revenues reached P139 billion, up 11 percent from P125.4 billion
“Our performance remains strong amid challenges that we face. It’s actually an opportunity for us to thrive even more. We simply focus on what we do best and we are very passionate about what we do best,” said Kingson U. Sian, president and COO of AGI.
All units except Emperador Distillers Inc. saw their earnings decline in 2015 with property firm Megaworld Corp. posting the biggest drop of 52 percent followed by gaming firm Travellers International Hotel Group (26 percent) and GADC (5.4 percent)
GADC, which holds the exclusive right to operate restaurants in the Philippines under the Mcdonald’s brand, plans to have 500 branches by the end of the year.
Net earnings of Emperador expanded by 12.2 percent to P6.96 billion with the acquisition of whisky maker Whyte & Mackay.
“Emperador Inc. is no longer just a domestic play but a global one given a much bigger and diversified product portfolio that now includes Fundador brandy and single malt whisky products, The Dalmore and Jura. We are also in the best position to capitalize on premiumization opportunities in the Philippines,” Sian said.