STRONGER recurring property income, improved gaming earnings and higher spirits sales helped lift Alliance Global Group Inc.’s net income by three percent year on year to P16 billion in the first half.
The holding company of businessman Andrew Tan reported net income of P16 billion, up from P15.6 billion a year earlier, excluding one-time gains from the 2025 deconsolidation of Golden Arches Development Corp., the franchise holder of McDonald’s in the Philippines.
Consolidated revenues were also up three percent year on year to nearly P90 billion on higher contributions from property leasing, non-VIP gaming and other gaming-related businesses, as well as the spirits business.
“In a demanding global environment, the strength of this group is its mix,” AGI President and CEO Kevin Tan said.
“Our recurring property income kept compounding, our gaming business grew earnings even as the industry moved away from VIP play, and our spirits continued to grow on a stronger portfolio,” he added.
Travellers International Hotel Group Inc., which operates Newport World Resorts, posted the group’s strongest earnings improvement during the period, with attributable net income nearly doubling to P568 million.
The hospitality and gaming subsidiary reported earnings before interest, taxes, depreciation and amortization of P4.4 billion, up 13 percent, while net revenue reached P15.2 billion.
The improvement came as non-VIP gross gaming revenue rose six percent to P9.6 billion, while non-gaming revenue increased 12 percent to P3.9 billion on higher room rates and food and beverage sales, more than offsetting a decline in VIP gaming volumes.
Megaworld Corp. contributed net income of P12.7 billion, an increase of five percent from a year ago, on consolidated revenues of P44.2 billion.
Hotel revenue grew 11 percent to P3.1 billion, helped by the opening of the 405-room Belmont Hotel Iloilo. Mall revenue increased eight percent to P3.6 billion, while office revenue rose five percent to P7.8 billion.
Megaworld’s residential presales climbed 15 percent to P63 billion, with second-quarter presales rising 20 percent to P33.3 billion, with the growth attributed mainly to stronger take-up in its provincial township developments.
Meanwhile, spirits maker Emperador Inc. recorded a five-percent increase in consolidated revenues to P29.6 billion, ending the first half with a net income of P3.7 billion.
Brandy revenue grew four percent to P19.2 billion, while brandy gross profit increased 20 percent on wider margins from a favorable product mix and pricing.
Whisky revenue rose seven percent to P10.4 billion, with gross profit increasing 12 percent as demand for its single malt portfolio continued to grow in international markets.
“We enter the second half with real momentum in our highest-quality businesses and a balance sheet built to support our growth plans,” Tan said.
Alliance Global has interests in real estate through Megaworld, spirits manufacturing through Emperador, and leisure and hospitality through Travellers International.
Shares of the company climbed P0.31, or 3.39 percent, to close at P9.45 each on Friday.
