AGI revenues grow 17%

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    Alliance Global Group Inc. (AGI) posted profits of P19.3 billion in the first nine months of the year, up 4 percent from P18.7 billion a year ago, as revenues grew 17 percent to P127 billion, from P108.8 billion last year.

    AGI’s third quarter profit rose 10 percent to P6.8 billion, as revenues jumped 19 percent to P44.2 billion amid strong contributions from all its key business units.

    The group’s realty business, Megaworld Corp., improved profits by 14 percent to
    P12.8 billion, from P11.2 billion last year. The tourism-related business under Travellers International, owner and operator of Resorts World Manila, posted profits of P786 million.

    The alcohol business under Emperador saw topline hit P33.8 billion, up from P30.6 billion last year. Golden Arches Development Corp., which holds the exclusive franchise to operate restaurants in the Philippines under the “McDonald’s” brand, grew profit by 18 percent to P1.2 billion.