Consolidated revenues grew to P51.07 billion, a 69 percent increase from P30.25 billion in the first half of 2012 with the consolidation of Travellers International Hotel Group Inc. this year.
"We expect Emperador to contribute significantly to our group’s earnings this year,” said AGI CFO Dina Inting. Emperador was recently named the number 1 selling brandy in the world in terms of volume by UK-based Drink International Magazine.
Core net income attributable to owners of AGI reached P5.73 billion, up 22 percent from P4.72 billion in the same period last year.
Meanwhile, AGI’s total cash and cash resources at the end of the period amounted to P63.4 billion.
Megaworld reported total revenues of P15.43 billion in the first half of 2012 from P13.81 billion, up 12 percent year on year. Core net income, on the other hand, amounted to P3.69 billion from P 3.21 billion, up 15 percent year on year.
Megaworld's performance was backed by strong sales from its residential projects in Newport City, McKinley West, McKinley Hill and Eastwood City, as well as strong leasing income from its BPO and retail portfolio.
Revenues and profits from the rest of AGI's portfolio of businesses also grew in line with targets. Apart from real estate, AGI has interests in industries such as food and beverage, quick service restaurants and integrated tourism estates.
Food and beverage arm Emperador Distillers Inc. produces Emperador, Generoso and Emperador Light brandies and a line of flavored alcoholic beverages called The Bar. The company recently launched two new product variants of The Bar, which are The Bar Citrus Tequila and The Bar Silver Vodka.
Golden Arches Development Corporation operates the quick service restaurant business under the McDonald's brand.
Travellers International, along with its partner Genting Hong Kong, operates Resorts World Manila, the first integrated tourism estate in the country. Resorts World Manila is located in Newport City, set across from Terminal 3 of the Ninoy Aquino International Airport in Pasay City.
Global-Estate Resorts develops integrated tourism estates in strategically located tourism hot spots such as Boracay, Tagaytay, and Batangas. It is well-positioned to promote the country on a global scale and drive the contribution of tourism to the growth of the economy.
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