Saturday , May 8 2021

Alliance Global makes P18.6 B for 9 months, an increase of 23% "Manila Bulletin Business


James A. Loiola

Alliance Global Group, Inc. (AGI), the investment arm of tycoon Andrev L. Tan, reported that her consolidated net income in the first nine months of 2018 increased 23 percent to $ 18.6 billion from $ 15.2 billion in the same period last year.

Kevin Tan

Executive Director AGI Kevin L. Tan

In discovery of the Philippine stock market, AGI said it was achieved on the back of a healthy 12 percent increase in consolidated revenues at P112.1 billion compared to last year of P100.3 billion.

"We are inspired by the strong performance of the Group and we will continue to work very hard to achieve good results in all our business segments that are moving forward," said AGI Executive Director Kevin L. Tan.

Undistributed net income also recorded strong growth of 18% to P12.1 billion in the first nine months of 2018 with P10.2 billion annually.

"We recognize many exciting opportunities on the market, both domestic and international, as we continue with our aggressive expansion program with an investment commitment of P240 billion by 2020," Tan said.

He added that "at the same time, we intend to manage our costs and maintain the level of transmission as we are careful of the global economic winds."

The urban planter Megavorld Corporation recorded a net income of P11.3 billion in the first nine months of 2018, a 13 percent increase from the P10.0 billion gain posted a year earlier.

Likuor affiliate Emperador, Inc. recorded a 16 percent increase from net income of P5.1 billion in the first nine months of 2018, with P4.4 billion a year.

"We expect Emperador to continue with its product diversification strategy to accept a wide range of taste of the premium market, thereby further improving its profitability," Tan said.

Travelers International, the owner and operator of Resorts World Manila (RVM), registered an imputed net income of P1.8 billion over a nine-month period compared to a loss of P34 million per year.

The Golden Arches Development Corporation (GADC), which holds the exclusive McDonald's franchise in the Philippines, reported a net income of P991 million in the first nine months of 2018, which is 3 percent more than P966 million a year.

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