Tuesday , January 18 2022

Alliance Global, P18.6 B Grows 23% in 9 Months »Manila Bulletin Business



James A. Loyola

Alliance Global Group, Inc., an investment firm of chaebol Andrew L. Tan, (AGI) was 23% last year, from £ 15.2 billion in the same period to $ 23.6 billion in nine months of 2018.

Kevin Tan

AGI Chief Executive Officer Kevin L. Tan

In its announcement to the Philippine Stock Exchange, AGI said it has achieved this with a 12 percent increase in consolidated revenues of 121 billion pesos (P112.1 billion) compared to P100 billion last year.

Kevin L. Tan, AGI's chief executive officer, said: "We are inspired by the strong performance of the group and will continue to work hard to achieve excellent results in all business segments.

Net profit that could be contributed was $ 12.1 billion, an 18% increase over the first nine months of 2018.

"We continue to pursue aggressive expansion programs with $ 240 billion in investment commitments by 2020, recognizing many exciting opportunities in domestic and international markets.

"At the same time, we will manage costs and keep gears at a low level," he said.

Megaworld Corporation, a city township developer, posted a net profit of $ 11.3 billion in the first nine months of 2018. This is a 13 percent increase over the $ 1 billion profit reported a year ago.

The mainstream subsidiary Emperador, Inc. posted a net profit increase of $ 1.6 billion from $ 4.4 billion in the prior year to $ 910 million by the first quarter of 2018.

"We look forward to Emperador continuing its product diversification strategy to better accommodate the diverse tastes of the premium liquor market and further improve profitability.

Travelers International, owner and operator of Resorts World Manila (RWM), posted a net profit of P18 billion in nine months, compared to a loss of P34 million in the previous year.

The Golden Arches Development Corporation (GADC), a MacDonald's exclusive distributor in the Philippines, reported a net profit of 990 billion euros through September 2018, a 3% increase over the previous year's 966 million.

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