Alliance Global Group Inc. (AGI), the holding company of tycoon Andrew L. Tan, delivered a six-percent growth in net income to ₱7.8 billion in the first quarter of 2026 from the normalized profit of ₱7.4 billion in the same period last year due to higher earnings from its property and spirits businesses.

This comparison accounts for the deconsolidation of Golden Arches Development Corp. (GADC) in March 2025 and excludes one-time gains of ₱3.4 billion. Attributable net income rose by five percent to ₱5.2 billion.

Consolidated revenues reached ₱42.2 billion, up one percent from the normalized level of ₱42 billion, driven by growth in residential, leasing, hospitality, and spirits.

“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. These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,” said AGI President and Chief Executive Officer (CEO) Kevin L. Tan.

He added that, “Our first-quarter performance is supported by ongoing cost discipline embedded in our operations. This allowed our group to gain operating leverage while we continue to implement our aggressive business strategies. Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment.”

Megaworld Corp., the country’s premier township developer, continued to deliver the biggest share of revenue and profit to the group in the first quarter.

Attributable net income grew by four percent to ₱5.3 billion from ₱5.1 billion a year ago, resulting from sustained improvement across all its key business units, which raised consolidated revenue by three percent year-on-year to ₱21.6 billion.

Emperador chalked up a four-percent year-on-year growth in attributable net income to ₱1.9 billion in the first three months, supported by a favorable product mix and continued cost management efforts.

Consolidated revenues improved to ₱13.4 billion, with brandy and whisky sales growing at a six-percent annual clip.

The brandy segment continued to gain momentum, enjoying higher sales due to encouraging consumer shifts despite the soft domestic liquor market, while whisky sales showed gradual and steady improvement as the group continued to navigate ongoing challenges in the international spirits market.

Travellers International, the group’s leisure and tourism arm and owner of Newport World Resorts (NWR), recorded net revenues of ₱7 billion in the first quarter, with gross revenues reaching ₱8.6 billion.

Gross gaming revenue (GGR) amounted to ₱6.6 billion, as the resilient mass segment cushioned the impact of overall weakness in VIP gaming.

Non-gaming revenues grew by 10 percent year-on-year to ₱2 billion, driven mainly by higher average hotel rates and improved retail spending within NWR complex.

Intensified cost management efforts further supported earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached ₱1.7 billion. - James A. Loyola