Alliance Global posts P5.4 net profit in first quarter

ABS-CBN News

Posted at May 25 2022 04:51 PM

MANILA - Alliance Global Inc on Wednesday said its net profit for the first quarter of 2022 reached P5.4 billion which is 67 percent higher than in the same period last year.

Net income to owners rose 52 percent to P3.9 billion from 2.6 billion in the same comparable period, the Andrew Tan-led firm said in a disclosure to the stock exchange.

Consolidated revenues grew 18 percent to P37.5 billion from P31.8 billion last year, it said. 

"AGI continued with its impressive growth momentum in the first quarter of the year as the overall improvement in mobility has allowed our businesses to perform further closer to pre-pandemic levels," AGI chief executive officer Kevin Tan said.

"This upturn is reflective of the underlying strength in domestic economy, just waiting to be unleashed," he added.

The company has interests in malls, hotels, real estate, spirits, entertainment and quick service restaurants, among others.

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