Alliance Global posts 1H P12-B earnings


ALLIANCE Global Group Inc. (AGI) announced that its consolidated revenues for the first half of 2022 rose by 16 percent year on year to P82.6 billion.

Net income for the first six months of 2022, on the other hand, fell by 6 percent year on year to P12 billion, as attributable profit only amounted to P8.2 billion, indicating a decline of 3 percent for the same period.

“AGI’s strong interim performance mirrors the quarterly rise in economic activity, helped by pent-up consumer spending as mobility continues to improve,” AGI Chief Executive Officer Kevin Tan said. This has been felt across all our business segments, which have performed on par, if not ahead, of their pre-pandemic levels.

Megaworld’s consolidated revenues in the first half rose by 23 percent year on year to P27.5 billion, while its net income stood at P5.9 billion, reflecting an 18-percent growth from the year before. Real estate sales in the first half were at P17 billion, up 26 percent.

Megaworld Premier Offices also posted a 15-percent increase in office rental income to P6 billion for the first semester of 2022, helped by improving net take up of office spaces with the return-to-office order on business process outsourcing sector employees to maintain their incentives.

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Megaworld Lifestyle Malls’ revenues of the first half of 2022 went up by 41 percent year on year to P1.5 billion due to higher mobility and improving consumer confidence.

On the other hand, Megaworld Hotels and Resorts reported a 49-percent increase in revenues for the first six months of 2022 to P1.1 billion as domestic tourism resumed and increased staycation bookings.

Emperador’s revenues in the first half of 2022 went higher by 11 percent to P28.1 billion from P25.3 billion for the same period a year ago.

Travelers, the owner and operator of New World Resorts, saw its core revenues in the first semester of 2022 rise by 71 percent year on year to P11.9 billion.

Furthermore, Golden Arches Development Corp. maintained its sales growth trajectory posting total revenues of P15.4 billion for the first semester of 2022, up 31 percent from P11.8 billion the year before. Its net income at the first half of 2022 totaled P768 million, reflecting a 15-fold increase from its level the year before.


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