Alliance Global Group, Inc. (AGI) raked in a net income of P21-billion ($47 million) in FY2014, reflecting an 8 percent increase over the previous year, the highest level in the company’s history. The income was achieved on consolidated revenues of P125 billion, also a record level for the Andrew Tan-led conglomerate, which is engaged in property development, food and beverage manufacture and distribution, quick-service restaurants and integrated tourism development businesses.
“We feel elated and excited about our performance. The consistent robust performance of our group is underpinned by our commitment to focus on what we do best. Yes, we are always open to opportunities but our core businesses are borne out of passion, creativity, and innovation. We are proud to say that we are game changers and brand builders. And we will constantly strive to raise the bar,” said Kingson U. Sian, president and chief operating officer of AGI.
Net income attributable to AGI shareholders was down by 4 percent at P13 billion last year on a recurring basis due to an increase of 13 percent in net income attributable to minority interests. This was the result of AGI having reduced ownership in Travellers International Hotel Group and also Emperador Inc. following their IPOs in late 2014. Prior to this, AGI held a 50 percent stake in Travellers International.
“Travellers International is the country’s most profitable tourism- entertainment and gaming company and it is the only one that has two tourism- entertainment and gaming sites,” added Sian.