Alliance Global Group Inc. records revenues of P32 billion in Jan-Mar 2015
Alliance Global Group, Inc. (AGI) posted a net income of P5.6 billion in the first three months of this year, almost the same level of earnings in the same period of 2014. This was achieved on consolidated revenues of P32.3 billion, around 5% higher year-on-year. Net income attributable to AGI went up by 4% to P3.5 billion. These figures exclude non-recurring gains. In terms of resources, AGI’s balance sheet strength was underpinned by total assets of P412 billion with cash of almost P76 billion.
“Our consumer-centric businesses – real estate development, food and beverage manufacturing and distribution, integrated tourism development, and quick-service restaurants – all showed profitability in the first three months of this year. They all maintained their strong positions in their respective industries,” said Kingson U. Sian, AGI’s president and chief operating officer.
On a standalone basis, the majority-owned companies of AGI all delivered strong earnings in the first three months of this year. Megaworld Corporation reported a net income of P2.3 billion; Emperador Inc. delivered P1.4 billion in earnings; Travellers International Hotel Group, Inc. made a net income of P1.7 billion; and Golden Arches Development Corporation (GADC) posted a net income of almost P160 million.
Mr. Sian added, “Our companies are all paving the way for future growth that will ultimately increase shareholder value. Megaworld is building more townships this year. Our target is to have 20 township developments by the end of 2015. Emperador will have its busiest year so far with product launches in the offing. One product was launched last month and is now available in retail outlets, Smirnoff Mule, which is a blend of vodka, ginger beer and lime. Consumer response is positive and exciting. Travellers continues to expand Resorts World Manila where the Marriott Grand Ballroom – the largest ballroom in the country – just opened last month. Travellers will have more hotels, additional gaming area and retail space by the end of 2017. GADC, which holds the exclusive right to operate restaurants in the Philippines under the “McDonald’s” brand, is targeting to have 500 branches nationwide by the end of 2015.”