AGI Q1 profit rose 6%

Alliance Global Group Inc. (AGI) grew its first-quarter net income by 6 percent to P7.8 billion, supported by stronger residential sales, leasing revenues and improving hospitality operations despite global economic uncertainties.

In a disclosure on Thursday, the Andrew Tan-led conglomerate said the earnings comparison was based on normalized figures following the deconsolidation of Golden Arches Development Corp. in March 2025 and the exclusion of one-time gains worth P3.4 billion.

Consolidated revenues inched up by 1 percent to P42.2 billion from the normalized level of P42 billion a year earlier, driven by growth in its residential, leasing, hospitality and spirits businesses.

Net income attributable to owners likewise rose 5 percent to P5.2 billion.

“AGI had an optimistic start: first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business and the nascent recovery in spirits sales,” AGI president and CEO Kevin Tan said.

Tan said the group’s performance was aided by ongoing cost discipline and operating leverage even amid a “challenging” macroeconomic and geopolitical environment.

Property giant Megaworld Corp. remained AGI’s biggest contributor to revenues and profit during the quarter. Its attributable net income climbed 4 percent to P5.3 billion as consolidated revenues rose 3 percent to P21.6 billion.

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Megaworld Lifestyle Malls posted a 9-percent increase in revenues to P1.8 billion on stronger foot traffic, higher tenant sales and improved occupancy, which reached 95 percent during the quarter.

Megaworld Hotels and Resorts also grew revenues by 8 percent to P1.5 billion, supported by portfolio expansion and rising meetings, incentives, conferences and exhibitions activities.

Its office leasing business, Megaworld Premium Offices, recorded a 4-percent increase in rental income.