AGI earnings increase by 12% in Q3

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THE 547-room Savoy Hotel Mactan Newtown is located within Megaworld Corp.’s 30-hectare Mactan Newtown township in Lapu-Lapu City, Cebu. This brought the Alliance Global Group Inc.’s total hotel room count to over 6,100 keys to date.

ALLIANCE Global Group, Inc. (AGI) reported its attributable net income grew by 12% to P4.7 billion in the third quarter, thanks to robust contributions from its real estate, gaming, liquor and fast food businesses.

A regulatory filing showed the holding company of tycoon Andrew Tan turned over P44.19 billion in revenues during the July to September period, higher by 19% year-on-year.

For the January to September period, AGI said its net profit attributable to owners rose 6.6% to P12.82 billion, on the back of a 17% jump in revenues to P127 billion.

Megaworld Corp. recorded a 14% growth in income attributable to owners to P12.8 billion in the nine-month period.

Real estate sales jumped 11% to P30.7 billion, on sales from Megaworld, Global Estate Resorts, Inc., Empire East Land Holdings, Inc. and Suntrust Properties, Inc. brands.

“Sales reservations reached P114.1 billion in the first nine months of the current year, bolstered by P58.7 billion added inventory,” the company said.




Emperador, Inc. saw a 2.6% increase in attributable net income to P5.27 billion in the nine months ending September, on 11% rise in revenues to P33.72 billion. In the third quarter alone, Emperador recorded a P2 billion (up 34%) profit from P12.4 billion in revenues (up 19%).

Travellers International Hotel Group, Inc., the operator of Resorts World Manila, saw its net income attributable to owners plunge 82% to P786 million in the January to September period.

Golden Arches Development Corp., which holds the master franchise for McDonald’s in the Philippines, reported a 19% increase in attributable net income to P1.16 billion as of end-September.

GADC’s revenues rose 13% to P23.2 billion, as systemwide sales in the third quarter went up 16%, while same-store sales grew by 6% year-on-year.

“We continue to work hard to deliver the strong performance across all our business segments. We undertake product innovations, capacity expansions and even pursue digital transformations in order to order to further strengthen our diversified portfolio in this fast-changing market. We believe these deliberate strategies will soon bear fruit, allowing our Group to show accelerated growth in future earnings,” Kevin L. Tan, chief executive officer of AGI, said in a statement.

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