Alliance Global Group, Inc. (AGI), the holding company of tycoon Dr. Andrew L. Tan, tripled its net income to P12.8 billion in the first half of 2021 from P4.1 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said earnings were boosted by its diversif
Published May 20, 2021, 3:24 PM
Alliance Global Group, Inc. (AGI) registered a 20 percent drop in net profit to P3.2 billion in the first quarter of 2021 from the P4 billion earned in the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said its profits declined as the global pandemic continues to impact the domestic economy brought about by quarantine restrictions.
Attributable net income was 13 percent lower at P2.6 billion in the first quarter of the year from P3.0 billion in the same period of 2020.
Consolidated revenues declined 16 percent to P31.8 billion in the first three months of 2021 from last P38 billion in the comparative period last year.
SunStar
+ May 11, 2021 ANDREW Tan-led Alliance Global Group Inc. (AGI) has posted a net income of P10.3 billion in 2020, a 62 percent drop from its P27.1 billion net income in 2019.
Consolidated revenues were also down by 28 percent to P129 billion from the previous year’s P180 billion, while net income to owners stood at P8.8 billion.
However, double-digit recovery was achieved by its core businesses in the fourth quarter of 2020 as the government eased quarantine restrictions toward the long holiday season.
Liquor sales of Emperador grew 42 percent during the fourth quarter compared to the previous quarter; sales of McDonald’s Philippines also jumped 36 percent quarter-on-quarter; gaming revenues of Resorts World Manila also grew 33 percent; and real estate sales of Megaworld was up 22 percent in the last quarter compared to the third quarter.
BusinessWorld
January 20, 2021 | 9:10 am
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