Alliance Global Group, Inc. (AGGI), the holding company of tycoon Andrew Tan, on Tuesday said its first quarter profit rose 84 percent to P910.4 million compared to the same period last year, pulled by the robust performance of its property unit Megaworld.
Consolidated revenues for January to March reached P7.3 billion, or an increase of 26 percent year on year.
"The company registered strong earnings in the first quarter inspite of the challenges that face our economy," AGGI president and COO Kingson Sian said.
Property developer Megaworld posted a record first quarter profit of P1.012 billion driven by the strong real estate sales of its mid-income residential and business process outsourcing office space developments.
Rental income also grew 59 percent to P333.53 million as it sustained the growth of its rental income with a combination of high occupancy rates in both its BPO office spaces and retail developments coupled with an aggressive buildup of its portfolio of investment properties.
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- I am a silent type of guy that wanted o have a lot of friend and wanted to help my parents and relatives. Even though we are only 4 in the family but ever since I did not made to feel the care and guidance of my parents.
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