“The Alliance Global Group mustered a strong recovery in the second quarter of the year despite the generally sluggish global economy, as well as the challenges brought about by elevated inflation, interest rates, and an unstable currency,” Tan, the president and CEO of AGI, said in a stock exchange filing on Wednesday.
“We believe that we are in the best position to take advantage of emerging opportunities as the economy continues to recover,” he added.
AGI registers revenue growth
During the second quarter of 2024, AGI saw revenues jump 16 percent to P56.8 billion while profit was steady at P4.6 billion.
For the first six months of the year, revenue expanded by 8 percent to P107.5 billion while profit slipped about 4 percent to P8.8 billion.
Diversified conglomerate
AGI owns property developer Megaworld Corp., liquor giant Emperador Inc., casino operator Travellers International, and Golden Arches Development (McDonald’s Philippines).
“Our performance mirrored the underlying strength of our brands and all our businesses as the group continued to invest in future capacity expansions and execute our strategies as planned,” Tan said.
“We also focused on implementing enhancements and innovations of our aspirational products and services to address changes in market preferences,” he added.
