Emperador, Megaworld drive AGI earnings to P22.3B

Alliance Global Group Inc. (AGI) reported a 5% increase in net income to P22.3 billion in the first nine months of 2026, with stronger brandy sales and growing property leasing and hotel operations accelerating its third-quarter performance.

Net income for the July-to-September period climbed 11% year-on-year to P6.3 billion, while consolidated revenues for the nine months rose 6% to P137.6 billion, excluding the impact of last year's deconsolidation of Golden Arches Development Corp. Third-quarter revenues increased 12% to P47.7 billion.

Net income attributable to owners grew 6% to P14.7 billion for the nine-month period and 18% to P3.9 billion in the third quarter.

AGI President and CEO Kevin L. Tan said the group's two largest businesses gained momentum during the quarter, with spirits sales surging and its property developments generating higher income from offices, malls and hotels.

Emperador Inc. led the group's quarterly growth, posting a 34% increase in consolidated revenues to P17.4 billion and a 47% jump in attributable net income to P1.1 billion. Brandy revenues surged 48%, while whisky revenues grew 13%.

For the first nine months, Emperador's revenues increased 14% to P47 billion, with attributable net income reaching P4.8 billion.

Megaworld Corp. recorded net income of P19 billion, up 6%, on revenues of P66.5 billion. Its hotel revenues climbed 12% to P4.6 billion, mall revenues rose 9% to P5.5 billion, and office revenues increased 7% to P11.9 billion.

Meanwhile, Travellers International, operator of Newport World Resorts, posted P23.1 billion in net revenue and P6.1 billion in EBITDA. Non-gaming revenues grew 16% to P5.9 billion, offsetting weaker VIP gaming revenue.

Tan said the upcoming opening of Westside Resorts Manila by year-end would add new leisure capacity to the group's portfolio.