Alliance Global Group Inc. records revenues of P99.6-B in the first nine months of 2015
Megaworld’s Global-Estate Resorts Inc. 9-mos profit up 67%; real estate sales more than doubled
Alliance Global Group, Inc. (AGI) posted a net income of P16.2 billion in the first nine months of this year, on consolidated revenues of P99.6 billion. Net income attributable to AGI amounted to P10.6 billion.
“The group’s financial performance continues to be compelling despite challenges faced by the gaming industry. We are strengthening the building blocks of sustained profitability and shareholder value in the long term,” said Kingson U. Sian, AGI’s president and chief operating officer.
Megaworld Corporation, the country’s biggest developer of integrated urban townships and the largest lessor of office spaces, achieved a net income of P8.35 billion during the first nine months of 2015, 12.52% higher year on year. Mr. Sian said, “Our rental arm continues to show robust growth, which is underpinned by more office and commercial spaces. The rental income that we generated in the first nine months of this year is up 24% and is in line with our P9-billion target in 2015. We also continue to experience real estate sales expansion with an 11.5% increase during the first nine months of this year.”
Emperador Inc., the undisputed market leader in liquor, posted a net income of P4.7 billion this year, up about 3% year on year. Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), remains profitable with a net income of P2.8 billion.
Mr. Sian said that for Emperador, “We are strengthening our product portfolio in the domestic market with the addition of two exciting products – Andy Player whisky and Smirnoff Mule, a blend of vodka, ginger beer, and lime. He also cited the ongoing expansion at Resorts World Manila, particularly the new hotel rooms to be added by the Marriot West Wing by early next year. “We will further add new hotels by 2017 – Hilton Manila Hotel, Sheraton Hotel Manila, and the new Maxims Hotel. Additional gaming areas and retail space together with parking will also be built."
Golden Arches Development Corporation, which holds the exclusive right to operate restaurants in the Philippines under the “McDonald’s” brand, reported a net income amounting to P520 million./PR