ALLIANCE Global Group, Inc. (AGI) said it generated P6 billion in net income to owners in the second quarter, surging from the P837.71 million logged in the same period last year as revenues grew.
Quarter on quarter, the listed company’s earnings grew by 132% from P2.6 billion.
Its topline amounted to P39.3 billion in the second quarter, 68% more than the P23.35 billion seen the previous year. It is 24% higher than the P31.8 billion seen in the previous quarter.
For the first semester, Andrew L. Tan’s holding firm saw its net income to owners increase by 124% to P8.5 billion from P3.8 billion year on year.
“All of our business segments here and abroad managed to sustain the quarterly growth trajectory we have been experiencing since the third quarter of 2020, indicating the extent of pent-up consumer spending across the globe, capped only by the prevailing restrictions in those areas to curb the rise of the COVID-19 Delta variant,” Kevin Andrew L. Tan, chief executive officer of AGI, said in a statement on Thursday.
It was able to improve its net income three times to P12.8 billion from last year’s P4.1 billion.
Earnings of its real estate firm Megaworld Corp. grew by 39% to P2.6 billion from P1.9 billion year on year, while its core revenues were up by 20% to P11.2 billion as all business units recovered.
“During the quarter, real estate sales recorded the strongest rebound of 62% year on year and 29% quarter on quarter, amid sustained construction activity which boosted project completion,” Megaworld said.
Both of Megaworld’s net attributable income and revenues inched down by seven percent in the first semester at P5 billion and P22.2 billion, respectively.
Emperador, Inc.’s net profit to owners in the second quarter went up by 60% year on year to P3 billion, to finish the first half with P5.1 billion. Meanwhile, its topline surged by 22% to P13.3 billion in the second quarter, boosting its revenue total for the six-month period by 18% to P25.3 billion.
“Driving the strong growth was the improved performance of its whisky and premium brandy brands as various economies across the globe have started to open up,” the company said.
Resorts World Manila’s owner and operator, Travellers International Hotel Group, Inc., generated P3.74 billion in net income in the second quarter, bringing its first half profit to P2.6 billion.
Travellers International logged a one-time gain from its subsidiary’s services related to its Westside City development.
“Travellers International… felt the heavyweight of the re-imposed lockdown when it virtually had no gaming operations for the most part of the second quarter,” the company said.
The unit’s gross revenues amounted to P4.6 billion as gross gaming revenues totaled P3.4 billion. Travellers International earned P1.2 billion in non-gaming revenues.
Meanwhile, Golden Arches Development Corp. logged a net income of P49 million, swinging from the P709-million loss incurred in the same period last year.
“[The turnaround comes] as the country’s most dynamic quick-service restaurant operator adapted to the New Reality through increased drive-thru activities and delivery services, while dine-in operations remained limited,” the company said.
Sales revenues of the sole operator of McDonald’s Philippines amounted to P6.1 billion in the second quarter, while its total revenues stood at P11.8 billion in the six-month period.
“We are also relentless in our efforts to fully recover from this pandemic-induced business slump as soon as we can,” Mr. Tan said.
On Thursday, AGI shares declined by 1.11% or P0.11 to close at P9.78 each. — Keren Concepcion G. Valmonte
