Alliance Global profit up 16% to P6.5B in Q1home/Business/Corporate News/Alliance Global profit up 16% to P6.5B in Q1LISTED Alliance Global Group Inc. (AGI) saw its net income increase by 16 percent to P6.5 billion in the first three months of 2019 from P5.6 billion in the same period last year on the back of strong revenues from its subsidiaries. Its net income attributable to the parent grew by 16 percent to P3.8 billion from P3.3 billion. Golden Arches Development Corp., which holds the exclusive franchise of McDonald’s in the Philippines, registered an attributable net profit of P383 million, a 16-percent improvement from P329 million year-on-year. Alliance Global has allocated P85 billion in capital expenditures this year, the bulk of which will go to Megaworld and Travellers. Alliance Global shares decreased by 10 centavos or 0.72 percent to close at P13.80 each on Monday.

Source: Manila Times May 20, 2019 17:59 UTC