Alliance Global Q3 net income rises 18% to P3.9 billion on liquor and property leasing gains

Alliance Global Group reported an 18% rise in Q3 attributable net income to P3.9 billion, driven by higher liquor sales and stronger contributions from Megaworld's leasing and hotel operations. For the first nine months of 2026, group net income reached P22.3 billion, up 5% year-on-year.

ALLIANCE GLOBAL Group, Inc. (AGI) reported an 18% increase in third-quarter attributable net income to P3.9 billion from a year earlier, driven by higher liquor sales and increased contributions from its property leasing and hotel businesses. The Andrew Tan-led conglomerate's consolidated net income rose 11% to P6.3 billion in the July-to-September period, the company said on Thursday.

Consolidated revenues, adjusted for the deconsolidation of Golden Arches Development Corp. (GADC) in 2025, increased 12% to P47.7 billion during the quarter. For the first nine months of 2026, AGI reported net income of P22.3 billion, up 5% from P21.2 billion a year earlier, excluding one-time gains related to the deconsolidation. Adjusted consolidated revenues for the January-to-September period grew 6% to P137.6 billion.

AGI attributed the growth to higher spirits sales, increased contributions from Megaworld Corp.'s leasing and hotel operations, and higher non-gaming revenues from its leisure business. “The third quarter showed the strength of what this Group can do when its two largest businesses accelerate together,” AGI President and Chief Executive Officer Kevin L. Tan said.

Liquor subsidiary Emperador, Inc. reported a 47% increase in third-quarter attributable net income to P1.1 billion, while consolidated revenues rose 34% to P17.4 billion. Brandy revenues increased 48% during the quarter, while whisky revenues grew 13%. For the first nine months, Emperador's attributable net income rose 2% to P4.8 billion, while consolidated revenues increased 14% to P47 billion. Brandy revenues grew 17% to P30.8 billion, while whisky revenues rose 9% to P16.3 billion.

In the property segment, Megaworld recorded a 6% increase in nine-month net income to P19 billion, while consolidated revenues reached P66.5 billion. The property developer's rental income increased 9% in the third quarter, while hotel revenues rose 14%. For the January-to-September period, Megaworld's hotel revenues grew 12% to P4.6 billion, mall revenues increased 9% to P5.5 billion, and office revenues rose 7% to P11.9 billion. Reservation sales reached P96.6 billion, up 9% from a year earlier.

Meanwhile, Travellers International Hotel Group, Inc., which operates Newport World Resorts, recorded P23.1 billion in net revenues for the first nine months of 2026, as higher non-gaming revenues partly offset weaker VIP gaming revenues. Non-gaming revenues increased 16% to P5.9 billion during the nine-month period, with third-quarter growth reaching 23%. Hotel, food, and beverage revenues rose 11% during the quarter. Travellers International's EBITDA increased 8% to P6.1 billion in the first nine months, while operating costs remained relatively unchanged, according to AGI. Mr. Tan said Westside Resorts Manila is expected to open by the end of 2026.