Alliance Global profits up 41%

MALAYA - Alliance Global Group, Inc. (AGI), said profit last year reached P20.8 billion, 41 percent higher than the previous year’s P14.7 billion.

“This is the first time we have breached the P20B net profit level.  It only highlights the underlying strength of our various businesses,from consumer and property to BPO and Tourism,all growth drivers of the Philippine economy,” said Andrew Tan, AGI chirman.

Core net income acrruiing to AGI shareholders reached P13.6 billion, 60 percent higher than the previous year’s P8.5 billion.

AGI said the growth was led by its main subsidiaries Megaworld Corp. Emperador Distillers, Inc. and Travellers International Hotel Group, Inc. which collectively contributed 90 percent of the conglomerate’s net profit.

“Megaworld set another record profit in 2012 when its net profit attributable to shareholders reached P7.3 billion up 21 percent from the P6 billion registered in 2011.  Last year,Megaworld, together with its subsidiaries sold over P63 billion in reservation sales with over 12,000 residential units,” AGI said.  Megaworld posted rental income of P5 billion in 2012,a 31 percent increase from P3.8 billion in 2011.  

Megaworld earlier disclosed plans to double its rental income to P10 billion over the next 5 years.

“We are optimistic about the property sector, and we expect sustained growth momentum in our two main business segments, which are residential and BPO office developments,” said Tan.
Emperador, AGI’s liquor arm and its wholly-owned subsidiary, meanwhile posted a 117 percent growth in net income at P5 billion up from P2.3 billion in 2011.

“The growth came from increased sales of the world’s best-selling brandy,Emperador, which sold over 31 million cases last year mostly under the product,Emperador Light,” AGI said.

Travellers,operating under the brand of Resorts World Manila,is the first and largest integrated tourism development in the country.  The company enjoyed another record year with net profit reaching P6.73 billion up 39 percent from P4.84 billion in 2011.  Net profit attributable to AGI shareholders grew to P3.12 billion from P2.21 billion in 2011.

In the 2nd quarter of 2013, Travellers will commence development on the 3rd phase of Resorts World Manila, which comprises 2 new hotels, under the Sheraton and Hilton international brands as well as the expansion of the existing Maxims and Marriott Hotels.

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