Alliance Global Group Inc. (AGI), the holding company of tycoon Andrew L. Tan, posted net income of P16.0 billion in the first half of 2026, up 3 percent from P15.6 billion a year earlier, excluding one-time gains from the deconsolidation of Golden Arches Development Corp. in 2025.
The modest profit growth masks a more important shift in earnings quality, as recurring property income, a more resilient gaming business, and stronger spirits margins increasingly anchor the conglomerate’s performance.
Consolidated revenue rose 3 percent to nearly P90 billion, excluding the impact of the GADC deconsolidation. AGI said growth came from property leasing, non-VIP gaming and non-gaming businesses, and spirits.
Travellers International, operator of Newport World Resorts, posted the sharpest improvement. Attributable net income nearly doubled to P568 million, while EBITDA climbed 13 percent to P4.4 billion. Non-gaming revenue rose 12 percent to P3.9 billion, while non-VIP gaming revenue increased 6 percent to P9.6 billion, offsetting weaker VIP volumes.
Megaworld reported net income of P12.7 billion, up 5 percent, on revenue of P44.2 billion. Hotel revenue rose 11 percent, mall revenue 8 percent, and office revenue 5 percent. Residential presales jumped 15 percent to P63 billion, signaling continued demand for township projects outside Metro Manila.
Emperador added another growth engine, with revenue rising 5 percent to P29.6 billion. Brandy gross profit surged 20 percent, while whisky revenue increased 7 percent.
AGI President and CEO Kevin Tan said the group’s diversified earnings base is designed to provide resilience through economic cycles.
The results suggest AGI is increasingly leaning on recurring, higher-quality income streams while selectively expanding businesses with stronger margins and growth prospects.
