Alliance Global Group posts solid earnings growth
Andrew Tan’s investment holding arm Alliance Global Group Inc. (AGI) reported a 17 percent jump in first half earnings to P7.9 billion on strong growth across all business units.
Consolidated revenues expanded by nine percent to P73.2 billion.
Property arm Megaworld Corp. grew its net income by 13 percent to P7.34 billion, driven by higher contributions from its rental and residential business segments.
The world’s largest brandy company saw its earnings rise by 18 percent to P3.3 billon, driven by the 77 percent surge in income from its whisky operations to P890 million.
Resorts World Manila operator Travellers Inrternational also delivered a strong performance as net profit soared to P1.7 billion or more than four times the P375 milliobn earned last year.
Golden Arches Devolopment Corp., the exclusive franchise holder of McDonald’s in the Philippines, sustained its upward trajectory with earnings growing 26 percent to P741 million on the back of an 11 percent expansion in sales revenues to P13,.5 billion.