By James A. Loyola

Alliance Global Group, Inc. (AGI), the investment arm of tycoon Andrew L. Tan, reported that its consolidated net income jumped 23 percent to P18.6 billion for the first nine months of 2018 from P15.2 billion in the same period last year.

In a disclosure to the Philippine Stock Exchange, AGI said this was achieved on the back of a healthy 12 percent uptick in consolidated revenues to P112.1 billion compared to P100.3 billion last year.

“We are inspired by the Group’s strong performance and we will continue to work very hard to deliver good results across all our business segments moving forward,” said AGI Chief Executive Officer Kevin L. Tan.

Attributable net income also posted a strong growth of 18 percent to P12.1 billion in the first nine months of 2018 from P10.2 billion a year before.

“We recognize the many exciting opportunities in the market, both domestic and international, as we continue to pursue our aggressive expansion program with an investment commitment of P240 billion up to 2020,” noted Tan.

He added that, “at the same time, we intend to manage our costs and keep our gearing levels low as we remain vigilant of the global economic headwinds.”

Urban township developer Megaworld Corporation recorded an attributable net income of P11.3 billion in the first nine months of 2018, a 13 percent growth from the P10.0-billion profit posted a year before.

Liquor subsidiary Emperador, Inc. posted a 16 percent growth in attributable net income to P5.1 billion in the first nine months of 2018, from P4.4 billion a year before.

“We expect Emperador to continue with its product diversification strategy to embrace the wide-ranging tastes of the premium liquor market and thus further enhance its profitability,” said Tan.

Travellers International, owner and operator of Resorts World Manila (RWM), registered attributable net income of P1.8 billion during the nine-month period compared to a loss of P34 million a year before.

Golden Arches Development Corporation (GADC), which holds the exclusive franchise of McDonald’s in the Philippines, reported attributable net income of P991 million in the first nine months of 2018,up 3 percent from P966 million a year before.