Alliance Global posts P3.5-B profit in Q1

MANILA – Andrew Tan's Alliance Global Group Inc. (AGI) said its net income attributable to the parent company grew 4 percent to P3.5 billion in the first quarter of the year, excluding non-recurring gains.

The company said this was achieved on consolidated revenues of P32.3 billion, around 5 percent higher year-on-year.

“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 Sian, AGI’s president and chief operating officer.

Megaworld Corporation reported a net income of P2.3 billion in the first quarter of the year, down from last year’s P2.7 billion. AGI said Megaworld is building more townships this year, and is targeting to have 20 township developments by the end of 2015.

Emperador Inc., meanwhile, posted a net income of P1.4 billion during the first quarter of this year, down from P1.72 billion in the same period last year.

Emperador recorded about P8.9 billion in revenues in the first quarter, a 16 percent increase from P7.7 billion in the same period of last year.

“The increase in liquor tax at the beginning of 2015 put some pressure on our margin,” Emperador president Winston Co said.

Emperador earlier said it will be launching 8 major liquor products in the Philippines to cover all segments and categories in the market and that 2015 would be its busiest and most exciting year.

Sian said Travellers, which made a net income of P1.7 billion, will have more hotels, additional gaming area and retail space by the end of 2017.

Golden Arches Development Corporation (GADC) posted a net income of almost P160 million.

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.

source: www.abs-cbnnews.com

Andrew Tan-led Alliance Global's profits breach P20-B

MANILA, Philippines - Alliance Global Group Inc. raked in P20.8 billion in profit last year, up 41% from the P14.7 billion recorded in the previous year.

In a statement, the firm said core net income attributable to AGI shareholders went up 60% to P13.6 billion from P8.5 billion.

"This is the first time we have breached the P20-B net profit level. It only highlights the underlying strength of our various businesses, from consumer and property to BPO (business process outsourcing) and tourism, all growth drivers of the Philippine economy," AGI Chairman Andrew Tan, who was included in Forbes magazines' list of global billionaires, said in the statement.

The firm said earnings were mainly driven by its property unit Megaworld Corp., liquor arm Emperador Distillers Inc. and tourism development company Travellers International Hotel Group Inc.

Megaworld booked P7.3 billion in net profit in 2012, 21% more than the P6 billion seen in the previous year.

Tan said AGI remains "optimistic" about the real estate market in the Philippines as sustained growth is expected from the residential and BPO office development segments.

Emperador, meanwhile, raked in P5 billion in net income last year, more than double the previous year's P2.3 billion amid a surge in brandy sales.

Travellers also saw an increase in its net profit to P6.73 billion from P4.84 billion in the previous year, riding on the government's push to develop the tourism sector.

AGI noted other subsidiaries, Global Estate Resorts Inc. and Golden Arches Development Corp., also booked "strong earnings and positive growth." Golden Arches is the Philippines franchise holder for McDonald's.

"This 2013 will be another banner year for AGI. We expect our various businesses to fully capitalize on the strong and positive macro environment. A minimum growth of 20% in net profit is quite achievable," Tan said.

source: abs-cbnnews.com