Alliance Global Group Inc. (AGI) reported a 6 percent increase in first-quarter net income, supported by stronger residential sales, rising leasing revenues, improving hotel operations, and an early recovery in liquor demand despite uncertain economic conditions.
AGI, the listed investment holding company of billionaire Andrew Tan, said consolidated net income reached P7.8 billion during the quarter, up from the normalized P7.4 billion recorded a year earlier after adjusting for the deconsolidation of Golden Arches Development Corp. Consolidated revenues edged up 1 percent to P42.2 billion, while net income attributable to owners rose 5 percent to P5.2 billion. AGI president and chief executive officer Kevin Tan said disciplined cost management and operating efficiencies helped the group preserve margins while continuing expansion plans across its businesses.
Property developer Megaworld remained the group’s biggest earnings contributor, posting a 4 percent increase in attributable profit to P5.3 billion as consolidated revenues climbed 3 percent to P21.6 billion. Rental income from malls, offices, and hotels improved as occupancy rates and tenant sales increased, while residential sales accelerated because of faster construction progress in Metro Manila projects.
Liquor producer Emperador posted a 4 percent increase in attributable income to P1.9 billion as brandy and whisky sales improved and margins widened. Meanwhile, Travellers International, operator of Newport World Resorts, reported higher non-gaming revenues from hotels and retail operations, helping offset weaker VIP gaming activity.
Tan said the group remains cautiously optimistic for the rest of the year as easing inflation, sustained tourism demand, and infrastructure activity support consumer spending and investment. However, he noted that geopolitical tensions, currency volatility, and uneven global economic growth continue to pose risks to business conditions across the property, hospitality, gaming, and international spirits markets while maintaining disciplined spending and expansion plans companywide.
