A. Soriano’s profits triple on investment gains; Amanpulo rates rise

Andres Soriano III

A. Soriano chair, CEO 

The Soriano family’s A. Soriano Corp., whose assets include the ultra-luxury Amanpulo Resort in Palawan and a minority stake in ATRAM Investment Management Partners Corp, saw profits soar nearly three times to P4.9 billion during the first nine months of the year.

Earnings were bolstered by investment gains of stocks, bonds, and funds worth P3.5 billion—compared to P403.1 million last year—amid a significant market rally during the third quarter of the year.

Revenues also rose 1.3 percent to P1.61 billion.

Amanpulo Resort

Amanpulo Resort’s occupancy rate dropped to 45.4 percent in 2024 from 48.2 percent in 2023, while the average room rate rose 14.1 percent to P93,826.

Despite total gross revenues reaching P994.8 million, Seven Seas’ net income fell 33.2 percent to P85.2 million, impacted by a P24.2 million tax-related loss. 

A. Soriano, which trades under the stock symbol ANS, has gained over 24 percent since the start of 2024.