Andrew Tan's Alliance Global Group Inc. (AGI) on Thursday reported a slumped profit of P3.2 billion in January to March, down 20 percent from P4 billion in the same period last year. The conglomerate's consolidated revenues for the period was also 16-percent weaker at P31.8 billion from P38 billion year-on-year. AGI's listed property arm, Megaworld Corp., reported an attributable income of P2.4 billion and consolidated revenues of P10.1 billion in the first quarter. Spirits manufacturer Emperador Inc., meanwhile, saw an attributable income of P2.1 billion, up 43 percent year-on-year. Golden Arches Development Corp. finished the quarter with an attributable income of P73 million as its consolidated revenues stood at P5.7 billion.

Source: Manila Times May 20, 2021 16:18 UTC