CONGLOMERATE Alliance Global Group, Inc. (AGI) said Monday net income rose to P10.1 billion for the first half of the year, higher by 39 percent from the same period last year, on the back of strong performances by its property and fast food businesses. Net income to owners stood at P6.7 billion in the first half, reflecting an 8 percent decline from the P7.3 billion registered a year ago, the company told the stock exchange. It said property arm Megaworld Corp. sustained a robust performance in the same period with an 11 percent growth in net income to P6.7 billion while consolidated revenue amounted to P24.3 billion. The company ended the first half of 2017 with a total of 533 stores nationwide compared with 494 stores a year before. Brandy maker Emperador, Inc. posted a 20.6 percent year-on-year decline in net income to P2.7 billion on slower domestic liquor consumption, with revenues sliding 1.4 percent to P18.1 billion.

Source: Manila Times August 14, 2017 17:15 UTC