Alliance Global Group Inc. (AGI), led by Andrew L. Tan, reported a 24 percent jump in net income to P24.8 billion for the first nine months, partly due to a one-time P3.4 billion gain from reclassifying its McDonald’s Philippines unit as an associate. Excluding this, core net income still rose 10 percent to P21.2 billion, driven by strong office, mall, residential, and hospitality operations.
Consolidated revenue fell to P143.4 billion from P156.5 billion last year. AGI cited a diversified portfolio, improving rentals, international spirits sales, and cost management as key drivers.
Travellers International, AGI’s leisure arm, saw net income grow 31 percent to P651 million, with total revenue at P28.6 billion—P23.5 billion from gaming and P5.1 billion from hotels and other services. Gaming revenue rose 7 percent in Q3 on stronger mass and VIP performance.
