Alliance Global Group Inc. (AGI) recorded a 13-percent decline in profit in the first quarter of the year to P2.6 billion from P3 billion last year.
Revenues reached P31.8 billion, down 16 percent from last year’s P38-billion.
“During the first two months of the year, most of our businesses have already rebounded, sustaining the momentum achieved during the holiday season. However, the momentum has been halted temporarily due to new restrictions imposed as a result of surges in new cases at the end of March,” said Kevin Tan, AGI chief executive officer.
Real estate unit Megaworld Corp., posted profit of P2.4 billion. Revenues reached P10.1 billion. Emperador Inc. posted profit of P2.1 billion, up 43 percent. Consolidated revenues reached P12.1 billion, up 13 percent, driven by improved brandy and whisky sales across the globe.
Travellers International Hotel Group Inc., owner and operator of Resorts World Manila (RWM) posted a loss of P1.1 billion for the period.
Revenues reached P5.2 billion, down 24 percent.
McDonald’s master franchisee Golden Arches Development Corp., posted profit of P73 million over revenues of P5.7 billion.
