Alliance Global Group Inc. (AGI), the conglomerate led by tycoon Dr. Andrew L. Tan, reported a 39-percent jump in net income to ₱19.2 billion in the first half of the year, driven largely by the increasing contribution from its real estate business and tourism-related segments, on the back of resilient domestic spending.

The firm disclosed to the Philippine Stock Exchange (PSE) that its earnings are inclusive of a ₱3.4-billion one-time gain from the deconsolidation of its quick-service restaurants business, Golden Arches Development Corp. (GADC).

Excluding such one-offs and netting out all GADC items in the financials to allow for comparability, AGI should show a normalized net income of ₱15.1 billion, reflecting a growth of 19 percent year-on-year.

Group revenues amounted to ₱100.9 billion while normalized consolidated revenues should amount to ₱87.1 billion, a modest increase of three percent year-on-year. Attributable net profit should hit ₱10.1 billion, rising sharply by 23 percent year-on-year.

In the second quarter of 2025, on a normalized basis, consolidated revenue stood at ₱45.3 billion while its attributable profit grew by 25 percent year-on-year to ₱5.3 billion.

“AGI delivered strong results in the first half of the year, benefitting from a buoyant domestic economy despite ongoing global uncertainty,” said AGI President and Chief Executive Officer (CEO) Kevin L. Tan.

He noted that, “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.

“Our tourism and leisure segments also enjoyed increased activities and occupancy, tapping into the increasing demand for staycations and MICE [meetings, incentives, conferences, and exhibitions] 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 added that, “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.”

Megaworld Corp. continued to deliver the biggest share of AGI’s performance in the first half of the year, with its attributable net income rising by 25 percent to ₱10.7 billion from ₱8.6 billion the year before.

Emperador Inc. reported a consolidated revenue of ₱28.2 billion and an attributable net income of ₱3.9 billion, following a 14-percent quarter-on-quarter growth in revenue in the second quarter of 2025 to ₱15 billion.

Travellers International, the group’s leisure and tourism arm, recorded a significant 21-percent quarter-on-quarter improvement in earnings before interest, taxes, depreciation, and amortization (EBITDA) to ₱2.5 billion in the second quarter of 2025.

Gross revenues stood at ₱9.2 billion, as gross gaming revenues (GGR) reached ₱7.5 billion, on the back of steady growth in mass business.

Meanwhile, non-gaming revenues amounted to ₱1.7 billion amid stable hotel occupancy of 90 percent, as the Newport World Resorts complex continued to enjoy healthy foot traffic.

Also, during the period, Travellers significantly reduced its overall costs and expenses, beefing up its attributable income which grew by more than double quarter-on-quarter to ₱217 million. Travellers intends to continue with its cost management efforts to allow the company to further enhance its operating efficiency moving forward.

In the first half, the EBITDA of Travellers grew by 11 percent year-on-year to ₱4.5 billion. Attributable income stood at ₱315 million on gross revenues of ₱18.9 billion.