Alliance Global income rises 5%

ALLIANCE Global Group, Inc. (AGI) on Monday reported a 5% jump in attributable net income to P4.6 billion for the second quarter on the back of growing revenues.

In a regulatory filing, the company said that its consolidated revenues for the period went up by 8% to P48.8 billion.

“The group has proven its tenacity in trying to beat industry metrics as we aspire to be always a step ahead of the race through our creative offerings and active engagement in the market. It also helped that consumer spending has been healthy while mobility continues to improve,” AGI Chief Executive Officer Kevin L. Tan said.

Real estate development unit Megaworld Corp. booked a 35% higher attributable net income for the quarter to P3.8 billion on the back of a 10% revenue growth to P15.8 billion.

Emperador, Inc. saw a 20% higher attributable net income for the three-month period to P2.4 billion, while its top line was “flattish” at P15.5 billion.

Additionally, McDonald’s Philippines operator Golden Arches Development Corp. (GADC) booked a 9% increase in net income for the April-to-June period to P554 million despite being weighed by increased cost pressures and overall margins.

Its revenues rose by 25% to P10.2 billion as it maintained its upward sales trajectory.

“While there are persistent inflationary pressures, we have remained steadfast in achieving operating efficiencies across all business units. We have also maintained our financial prudence even as we continue with our aggressive expansion plans both here and abroad,” Mr. Tan said.

“The group is optimistic that we can weather this through as we remain focused in achieving our growth goals,” he added.

For the first half, the company reported a 19% rise in net income to P14.2 billion from P12 billion a year ago due to growth in revenues for the period.

Its consolidated revenues for the six-month period went up by 20% to P99.1 billion from P82.6 billion due to improvements in discretionary spending and mobility.

Megaworld saw its net income climb by 34% to P7.9 billion from P5.9 billion due to economic resurgence, which drove demand for its residential properties, leasing activities and hotels.

The developer’s consolidated revenues rose by 17% to P32 billion, with real estate sales contributing 60%.

Emperador reported a 9% decline in net income for the first semester to P4.7 billion from P5.2 billion due to an increase in selling and operating expenses.

Its consolidated revenues for the period went up by 11% to P31.1 billion from P28.1 billion mainly driven by the increasing popularity of its premium whisky brands

The company said that Emperador saw revenues from its whisky segment grow by 23% to P12.5 billion; while revenues from brandy increased by 4% to P18.6 billion amid the stiffer competition in the domestic market.

GADC reported a 27% increase in net income for the six-month period to P972 million, while its top line rose by 31% to P20.2 billion from P15.4 billion the previous year.

“McDonald’s Philippines, the country’s most dynamic quick service restaurant operator has maintained its relevance in the highly competitive consumer market with its creative product offerings and pricing,” it said.

At the end of the January-to-June period, GADC had 702 stores in its network nationwide.

On Monday, AGI fell by 4.02% or P0.52 to P12.42 per share. — Adrian H. Halili