Alliance Global Group, Inc. (AGI), in a disclosure to the Philippine Stock Exchange, announced that it expects net income attributable to
shareholders to grow by at least 38 percent to approximately P6.62 billion in 2010 compared to the P4.80 billion netted last year.
It also expects to replicate its growth this year with another 38-percent growth in net income in 2011.
The company is focused on and has leadership positions in high-growth industries that mirror the strength and prospects of the Philippine economy, namely, consumer, business processing outsource (BPO) and tourism.
AGI, led by its founder and chairman Andrew L. Tan, is one of the Philippines? largest conglomerates that operates a diversified range of businesses in the real estate
development, food and beverage, quick service restaurants (QSR) and integrated tourism/resorts industries.
?With the improving global economic climate, backed by the renewed optimism of the local and foreign investors regarding the growth prospects of the Philippines, we are confident that AGI is poised to take advantage of such an environment and build on the momentum we have created in all segments of our business,? AGI president Kingson U. Sian said.
He also stressed that its listed real estate arm, Megaworld Corporation (MEG), has seen a brisk take up in sales of its residential developments.
The MEG group of companies sold P33 billion worth of real estate projects under the Megaworld, Empire East and Suntrust brands in the first eight months of 2010.
?The strong take up in sales is attributable to the strength of our live-work-play-learn communities,? Sian emphasized.
Megaworld is a pioneering developer of integrated live-work-play-learn communities in the country.
To date, it has six township developments under way in the most strategic locations in Metro Manila, in addition to several luxury residential condominium projects in the heart of the Makati central business district (CBD).
For the remainder of the year, MEG is set to launch projects in Manila through Palm Bay, McKinley Hill, the Makati CBD, Newport City and North Bonifacio CBD.
Food and beverage arm, Emperador Distillers, has remained to be the most profitable liquor company in the Philippines.
Meanwhile, QSR arm, Golden Arches Development Corporation, the master franchise holder of McDonald?s in the Philippines, has put in place clear strategies for growth that would take advantage of the prevailing strong consumer confidence.
On the tourism estate development, Travellers International, a joint venture between AGI
and Genting Hong Kong, is operating the country?s first integrated tourism estate called Resorts World Manila.
Just across from Ninoy Aquino International Airport Terminal 3, Resorts World Manila is a world class facility which includes 3 hotels totaling 1,226 rooms, a
1,532 seat Newport Performing Arts Theatre, retail and entertainment facilities.
Resorts World Manila is planning to build additional hotel rooms that will bring total rooms to about 1,500 rooms, making it the largest hotel owner and operator in the country.
AGI further announced that it targets issuance of dividends of at least P0.33 centavos per share, up from P0.18 centavos per share it announced earlier this year.
By next year, total cash resources of the group, including Travellers International, should amount to about P60 billion.
We have built a solid base to ensure a promising future for AGI. With the resources that we have and the strength of each of our businesses, we are confident of our ability to sustain our momentum further in the coming years,? Sian concluded. (PNA)
source: Trading Markets, 05 October 2010
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