MANILA - Alliance Global Group, Inc. (AGI) posted a net income of P11.5 billion in the first six months of this year, 5% higher than what was recorded in the same period of 2014.
This was achieved on consolidated revenues of P65.4 billion, almost 11% higher year-on-year. Net income attributable to AGI went up by 4% to P7.5 billion. These figures are exclusive of non-recurring gains.
“Our group’s sustained profitability continues to be underpinned by AGI’s subsidiaries as they all consistently show visible earnings. All the consumer-centric companies that are majority-owned by AGI exhibited profitability in the first half of this year,” said Kingson U. Sian, AGI’s president and chief operating officer.
Megaworld Corporation posted a 12.5% year-on-year increase in recurring earnings, amounting to P5.4 billion from P4.82 billion.
Emperador Inc. made a net income of P3.3 billion, 7% higher; Travellers Hotel International Group Inc. posted a net income of P2.4 billion; and Golden Arches Development Corporation reported a net income amounting to P324 million.
Megaworld is the undisputed township developer that happens to be the fastest-growing landlord this year, particularly in terms of rental income, which is projected to grow by 27% to P9 billion on the back of the office and commercial segments.
Emperador is, likewise, the undisputed market leader in Philippine liquor.
Travellers continues to expand Resorts World Manila where the Marriott Grand Ballroom – the largest ballroom in the country – just opened last April.
GADC holds the exclusive right to operate restaurants in the Philippines under the “McDonald’s” brand.
By MARK FRANCISCO HOUSE of Hope, a privately-run shelter for people with mental disabilities in Cagayan de Oro City, is expected to expand soon. This, after the Archdiocese of Cagayan de Oro, which owns the property where the current facility sits in barangay Lumbia, donated the land to the...