AGI income rises to P5.2 billion as property, hospitality drive growth - BusinessWorld Online

ALLIANCEGLOBALINC.COM ANDREW L.TAN-LED conglomerate Alliance Global Group, Inc.

(AGI) posted a 5% rise in first-quarter (Q1) attributable net income to P5.2 billion, driven by growth in its property, hospitality, leasing, and spirits businesses.In a statement on Thursday, the company said January-to-March net income stood at P7.8 billion, up 6% from the normalized P7.4 billion recorded a year earlier, excluding one-time gains and the impact of Golden Arches Development Corp.’s (GADC) deconsolidation in March 2025.

Consolidated revenues rose 1% to P42.2 billion from the normalized P42 billion recorded in the same period last year.“AGI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sales.

These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,” AGI President and Chief Executive Officer Kevin L.Tan said.

“Our first quarter performance is supported by ongoing cost discipline, embedded in our operations.This allowed our Group to gain operating leverage, while we continue to implement our aggressive business strategies.

Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment,” he added. On the property business, Megaworld Corp.saw a 4% increase in attributable net income to P5.3 billion as revenue climbed by 3% to P21.6 billion.

Real estate sales reached P13.3 billion, up 15%, driven mainly by construction progress in Metro Manila projects.The office segment through Megaworld Premier Offices saw a 4% increase in office rental income supported by new leases and contract renewals.

The malls business led by Megaworld Lifestyle Malls saw revenues climb 9% to P1.8 billion, supported by higher tenant sales, improved occupancy, and stronger foot traffic.R...