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Friday, March 29, 2024

AGI, Lopez profits up

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Conglomerate Alliance Global Group Inc. and Lopez Holdings Inc. reported higher profits in 2015 from a year ago levels, driven by strong performance of core units.

Alliance Global, the listed holding company of business tycoon Andrew Tan, said in a disclosure to the stock exchange the company booked an all-time high net income of P21.6 billion in 2015 on a recurring basis, up 3.5 percent from 2015.

The company, which is engaged in property development, food and beverage manufacture and distribution, quick-service restaurants and integrated tourism development businesses, posted record consolidated revenues of P139 billion, up 11 percent.

Lopez Holdings Corp., meanwhile, said net income in 2015 jumped 65 percent to P6.2 billion from P3.76 billion a year ago on robust financial performance of units First Philippine Holdings Corp. and ABS-CBN Corp.

Consolidated revenues declined by three percent to P96.5 billion.

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First Philippine Holdings reported a recurring net income of P5.2 billion, up 11 percent on the strength of its power generation, manufacturing and geothermal well drilling businesses. 

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