Philippine Daily Inquirer
1:32 pm | Wednesday, April 30th, 2014
Kingson Sian, AGI president and chief operating officer. FILE PHOTO
MANILA, Philippines — Alliance Global Group Inc. grew its net profit attributable to equity holders of parent firm by about 24 percent to P17.2 billion led by growth in its beverage, property integrated gaming, consumer and tourism businesses.
Including earnings attributed to minority interest, AGI’s net profit last year rose by almost 13 percent to P23.1 billion, making 2013 a banner year for the conglomerate. Consolidated revenues expanded by 21 percent to P123.4 billion.
“We are elated that the group continues to show robust financial performance. We believe that all the ongoing expansion happening at the major subsidiaries of AGI will provide the impetus for sustained growth in the long run,” said Kingson Sian, AGI president and chief operating officer.
In a press statement, AGI said its growth was led by the following subsidiaries: liquor-maker Emperador Inc., property developer Megaworld Corp., integrated gaming and Travellers International Hotel Group, Inc., McDonald’s local master franchise-holder Golden Arches Development Corp. (GADC) and Global-Estate Resorts Inc. (GERI).
Attributable earnings from majority-owned Emperador Inc. totaled P5.3 billion, while Megaworld, also majority-owned by AGI, contributed another P5.3 billion. Travellers accounted for almost P1.2 billion while GADC and GERI contributed P387 million and P224 million, respectively.
AGI’s total assets went up by 22 percent to P332.4 billion as of end-2013 from the previous year.
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Tags: Alliance Global Group Inc , Beverage , Business , Gaming , Real Estate , Tourism
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