ALLIANCE Global Group Inc. (AGI) on Thursday reported a first-quarter net income of P7.8 billion, up from a normalized P7.4 billion a year earlier, on stronger contributions from the property, hospitality and liquor businesses.
In a disclosure, the holding firm said the six-percent profit growth reflected the deconsolidation of Golden Arches Development Corp. in March 2025 and excluded one-time gains of P3.4 billion.
Consolidated revenues edged up one percent to P42.2 billion from the adjusted P42.0 billion in the same period last year, supported by growth in residential, leasing and spirits.
Net income attributable to owners rose five percent to P5.2 billion.
“AGI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sales,” AGI President and CEO Kevin Tan said.
“Our first quarter performance is supported by ongoing cost discipline embedded in our operations,” he added.
Property developer Megaworld Corp. remained the group’s largest earnings contributor, with attributable net income rising four percent to P5.3 billion while consolidated revenues climbed three percent to P21.6 billion.
Mall revenues grew nine percent to P1.8 billion on stronger foot traffic and higher tenant sales while hotel revenues climbed eight percent to P1.5 billion amid portfolio expansion and increased activities in the meetings, incentives, conferences and exhibitions (MICE) sector.
Office rental income improved four percent from a year ago while real estate sales reached P13.3 billion, up 15 percent quarter-on-quarter, driven mainly by Metro Manila projects.
Megaworld’s earnings before interest, taxes, depreciation and amortization (Ebitda) expanded nine percent to P9.6 billion, with rental assets and cost efficiencies said to have boosted margins.
Liquor unit Emperador Inc., meanwhile, posted a four-percent increase in attributable net income to P1.9 billion on the back of higher consolidated revenues of P13.4 billion.
Emperador’s combined brandy and whisky sales rose six percent versus the same quarter last year, said to have been supported by an improved product mix and continued cost management initiatives.
Meanwhile, leisure and gaming arm Travellers International Hotel Group Inc. generated net revenues of P7.0 billion and gross revenues of P8.6 billion.
Gross gaming revenues stood at P6.6 billion with the mass gaming segment offsetting softer VIP gaming activity. Non-gaming revenues climbed 10 percent to P2.0 billion on higher hotel room rates and improved retail spending at Newport World Resorts.
The company added that intensified cost management efforts helped lift Ebitda to P1.7 billion.
Alliance Global shares rose P0.05 or 0.58 percent, to close at P8.70 each on Thursday, amid a 0.46-percent advance for the benchmark Philippine Stock Exchange index.
