The conglomerate saw net income surge 39 percent to P19.2 billion, helped by a one-time gain from the deconsolidation of its quick service restaurant business, Golden Arches Development Corp. (GADC), which operates McDonald’s Philippines.
AGI now treats GADC as an associate instead of a subsidiary after reducing its accounting control, resulting in a P3.4-billion one-off gain while retaining a 49 percent stake.
Excluding one-offs and GADC-related items, normalized net income rose 19 percent to P15.1 billion, reflecting strength across property, leisure, and liquor.
Management’s view
“AGI delivered strong results in the first half of the year, benefitting from a buoyant domestic economy despite ongoing global uncertainty. During this period, our group took advantage of pockets of opportunities in the market to boost our residential and retail sales, as well as our office take-up,” Tan, president and CEO of AGI, said in stock exchange filing.
Staycations, cost rationalization
“Our tourism and leisure segments also enjoyed increased activities and occupancy, tapping into the increasing demand for staycations and MICE events. Even our spirits segment sustained its recovery in sales, a testament to the strength of its brands that have been expanding their presence in the local and international markets,” Tan continued.
“Our strong performance was also accompanied by ongoing cost-efficiency measures, which we implemented across all our business segments. By managing our costs, we hope to enhance our operating leverage to ensure a more robust growth in profit as the economy further recovers,” he said.
Real estate fuels steady growth
Megaworld, the country’s premier township developer, saw revenues rise 10 percent to P43.1 billion in the first half of 2025, driven by gains across real estate, office, mall, and hotel segments.
Real estate sales grew 9 percent to P27.1 billion, while office rentals jumped 17 percent to P7.4 billion and hotel and mall revenues rose 19 percent and 10 percent, respectively.
This lifted attributable net income by 25 percent to P10.7 billion.
Liquor brand stretches global reach
Emperador Inc., the world’s largest brandy maker and a rising Scotch whisky player, grew second-quarter revenue 14 percent quarter-on-quarter to P15 billion, led by stronger Fundador sales and broader overseas distribution.
Attributable net income rose 13 percent to P2.1 billion despite higher input and marketing costs.
First-half revenue reached P28.2 billion, with net income to owners at P3.9 billion.
Casinos
Travellers International Hotel Group Inc., the tourism arm of Alliance Global Group Inc. (AGI), saw second-quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) jump 21 percent quarter-on-quarter to P2.5 billion.
Gross revenue hit P9.2 billion, with P7.5 billion from gaming and P1.7 billion from non-gaming, while Newport World Resorts maintained a 90 percent hotel occupancy.
Quarterly attributable profit more than doubled to P217 million, and first-half EBITDA rose 11 percent to P4.5 billion.
—Edited by Miguel R. Camus
