ALLIANCE Global Group Inc. (AGI), the holding company of tycoon Andrew Tan, reported a five-percent increase in net income to P22.3 billion in the first nine months of 2026, supported by stronger spirits sales and growth in its property leasing and hospitality businesses.
The conglomerate on Thursday said earnings growth accelerated in the third quarter, with net income rising 11 percent year-on-year to P6.3 billion.
The company said the nine-month and quarterly comparisons were adjusted to exclude one-time gains from the deconsolidation of Golden Arches Development Corp. (GADC) in 2025.
Net income attributable to owners of the parent company increased by six percent year-on-year to P14.7 billion in the January-to-September period. For the third quarter alone, it climbed 18 percent to P3.9 billion.
Excluding the GADC deconsolidation, consolidated revenues rose six percent to P137.6 billion in the first nine months, while third-quarter revenues increased 12 percent to P47.7 billion.
AGI President and CEO Kevin Tan attributed the stronger quarterly performance to accelerated growth in the group's spirits and property businesses.
Emperador Inc., the group's spirits business, led the third-quarter expansion, with consolidated revenues surging 34 percent year-on-year to P17.4 billion. Its attributable net income increased 47 percent to P1.1 billion.
Brandy revenues jumped 48 percent during the quarter, driven by CLVB Emperador and Fundador Super Special, while whisky revenues grew 13 percent on continued demand for its single malt portfolio in international markets.
For the first nine months, Emperador's consolidated revenues increased 14 percent to P47 billion. Brandy revenues grew 17 percent to P30.8 billion, while whisky revenues rose nine percent to P16.3 billion.
Emperador’s gross profit climbed 17 percent to P13.6 billion, while attributable net income reached P4.8 billion, up two percent.
Meanwhile, property developer Megaworld Corp. posted a six-percent increase in net income to P19 billion on consolidated revenues of P66.5 billion.
Its recurring income businesses gained momentum in the third quarter, with rental income growing nine percent and hotel revenues rising 14 percent.
For the nine-month period, hotel revenues recorded the fastest growth among its segments, increasing 12 percent to P4.6 billion. Mall revenues rose nine percent to P5.5 billion, while office revenues grew seven percent to P11.9 billion.
Megaworld's reservation sales also increased nine percent year-on-year to P96.6 billion, reflecting demand across its township developments.
AGI's leisure and tourism arm, Travellers International Hotel Group Inc., owner and operator of Newport World Resorts, recorded earnings before interest, taxes, depreciation and amortization of P6.1 billion in the first nine months, up eight percent year-on-year.
Travellers’ net revenue reached P23.1 billion, as higher non-gaming income offset softer VIP gaming revenue. Non-gaming revenues increased 16 percent to P5.9 billion during the period, with growth accelerating to 23 percent in the third quarter. Hotel, food and beverage revenues grew 11 percent in the quarter.
Alliance Global said Westside Resorts Manila, its upcoming integrated resort development, is scheduled to open by the end of the year.
On Thursday, AGI shares slipped P0.10, or 1.12 percent, to close at P8.79 each.