Alliance Global’s first-half profit rises 17%

Alliance Global Group, Inc. grew its attributable profit by 17% in the first half of 2018, driven by the double-digit growth across its property, liquor, and fast food businesses, alongside the recovery in its gaming unit.
In a statement issued Friday, the holding firm of tycoon Andrew L. Tan reported a net income attributable to equity holders of the parent of P7.9 billion, versus the P6.9 billion it realized in the same period a year ago.
This was supported by a nine percent increase in revenues to P73.2 billion for the first semester.
“All the group’s major subsidiaries delivered strong topline and bottomline results, reflecting the improving outlook in their respective business segment,” AGI Chief Executive Officer Kevin Andrew L. Tan said in a statement. — Arra B. Francia