Listed holding companies Alliance Global Group Inc., Filinvest Development Corp. and Robinsons Retail Holdings Inc. reported strong earnings in the first half on positive performance of core subsidiaries.
Filinvest Development Corp. of the Gotianun family reported a net income of P4.4 billion in the first six months, up 28 percent from the same period last year, driven by robust results in banking and real estate subsidiaries.
FDC said first-half revenues grew 17 percent to P29 billion from P24.8 billion, with the banking unit accounting for 40 percent of the total, followed by real estate with 38 percent.
Meanwhile, Alliance Global of tycoon Andrew Tan said in a disclosure to the stock exchange net income attributable to equity holders hit P7.3 billion while revenues reached P67.1 billion.
“Amidst intensifying competition, we continue to build on our strengths while maintaining our cost efficiencies. That way, we achieve operating leverage as we execute our growth strategies for our domestic and international operations,” AGI president and chief operating office Kingson U. Sian.
Robinsons Retail, the listed retail holding firm of the Gokongwei group, booked a net income of P2.02 billion in the first semester, an increase of 8.6 percent from the same period last year.
First-half net sales rose 16.9 percent to P48.33 billion, while operating income went up by 17.1 percent to P2.3 billion.
RRHI was operating 1,527 stores as of end-June.