Alliance Global Group Inc. (AGI), the investment holding company of
billionaire Dr. Andrew L. Tan, reported a net income of P6.08 billion in the second quarter of this year, reflecting an
increase of 3% year-on-year and a 15% improvement quarter-on-quarter. The growth came on the back of a 3% expansion
in consolidated revenues to P34.0 billion. Attributable net income for the same
period stood at P3.95 billion. For the
first half of the year, AGI’s consolidated revenues reached P67.1bn while net
income stood P11.3bn and attributable profit amounted to P7.3bn.
"Amidst intensifying competition, we continue to build on our
strengths while maintaining our cost efficiencies. That way, we achieve operating leverage as we
execute our growth strategies for our domestic and international
operations," said Mr. Kingson U. Sian, president and chief operating
officer, AGI.
Megaworld Corporation, AGI’s flagship property company, recorded a net income of P3.39 billion in the second quarter, up 10% year-on-year and 29%
quarter-on-quarter. The company’s
leasing businesses remained the primary driver of growth as it sustained its
15% year-on-year increase in rental revenues during the quarter, reaffirming
its position as the largest lessor of office spaces in the Philippines. For the first half, Megaworld reported net
income of P6.0 billion on revenues of P23.0 billion.
For this year, Megaworld is poised to breach the 1-million square meter mark in terms of total
leasable space, and will have doubled that by end of 2020 given an accelerated
pipeline for office and commercial development until then.
“We have already secured a
significant-sized, strategically-located land bank. We only have to execute these projects in our 21 integrated townships throughout the country,” says
Mr. Sian.
Emperador Inc., a global player in the
liquor industry and the world’s largest brandy company, reported a net profit of P2.03 billion in the second quarter,
an increase of 9% year-on-year and 45% quarter-on-quarter. Sales during the same period grew by 5% from the
level in the first quarter, while gross profit rose
by 26% quarter-on-quarter. This is attributed to the company’s now more
diversified product portfolio which includes brandy and whisky, two of the
fastest-growing spirit segments in the
world. For the first half, Emperador
posted revenues of P18.4 billion and net profit of P3.4 billion.
The company continues to pursue its premiumization strategy
as it now has leading brandy brands in both local and
foreign liquor categories –Emperador and Fundador brandy, respectively– and
world-renowned whisky brands The Dalmore and Jura which are now being
distributed in the Philippines.
Travellers International Hotel Group Inc., operator of Resorts World
Manila, posted a 3% year-on-year improvement in second quarter net profit to P638 million as net revenues grew 19% to P6.53 billion for the same period. Topline growth was driven by a 21% jump in
net gaming revenues to P5.61 billion as volumes increased across all segments,
accompanied by an improved win rate.
Non-gaming revenues also went up 7% to P920 million helped by high
occupancy rates of 87% across its three hotels
(Maxims Hotel, Remington Hotel, and Marriott Hotel Manila). In addition, the Marriott Grand Ballroom,
which is the largest hotel ballroom in the country, contributed another P93
million in revenues for the period. For the first six months of the year,
Travellers recorded net income of P1.8 billion on net revenues of P12.5
billion.
Golden Arches Development Corporation, which holds the exclusive
franchise to operate restaurants in the Philippines under the “McDonald’s”
brand, reported a sharp 87% year-on-year increase in net income to P307 million in the second quarter. The strong growth in profit was driven by the
16% improvement in revenues to P5.64 billion as systemwide same-store-sales
grew by 10% year-on-year. In the first
half, GADC reported net income of P497 million on revenues of P10.9 billion.
“We continue to spend for our massive expansion programs aimed at
further strengthening our industry footing.
We are planting the seeds to ensure our long-term growth in our domestic
and global operations. All we need to do
is to continue to execute well,” said Mr. Sian.
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