Stock News 2013: Property, gaming boost AGI profits in Q1

Casino logo (Photo credit: Wikipedia)

Alliance Global Group Inc. grew its first-quarter net profit by 18 percent year on year to P4.91 billion on higher earnings chalked up by its property development, gaming and beverage businesses.

Core net income attributable to AGI shareholders likewise increased by 21 percent to P3.58 billion from the level a year ago, the company disclosed to the Philippine Stock Exchange on Wednesday.

Property development arm Megaworld Corp. posted a 15-percent rise in first-quarter net profit to P1.8 billion.  Megaworld contributed around 34 percent to AGI’s net income and about 26 percent to total revenue.

Leisure estate and gaming unit Travellers International Hotel Group—a partnership with the Genting group of Malaysia, which has made plans to go public—grew its first-quarter net profit by 16 percent year on year to P995 million. Travellers operates Resorts World Manila, the first integrated tourism estate in the country.

Emperador Distillers Inc. posted a 40-percent jump in first-quarter net profit to P1.4 billion.

Megaworld, Travellers and Emperador collectively contributed 84 percent of the conglomerate’s net profit.

“We believe the current macroeconomic conditions will contribute positively to our various businesses, from consumer and property to BPO and tourism—all growth drivers of the Philippine economy. These businesses will hit double-digit growth in revenues and net profits,” AGI chairman Tan said in a press statement.

Consolidated revenues went up by 25 percent to P30.39 billion in the first three months from the level a year ago.

Real estate arm Megaworld contributed around 34 percent to AGI’s net income and about 26 percent to its total revenue.

Megaworld’s three-month revenues stood at P8.1 billion, up 16 percent year on year. As an indicator of future growth, Megaworld and its subsidiaries also posted over P18 billion in reservation sales for the first quarter, higher than the P14 billion level in the same period last year, as the group reported brisk sales from the residential projects in its townships, particularly Newport City, McKinley West, McKinley Hill and Eastwood City.

Megaworld also cited strong leasing income from its BPO and retail portfolio.

http://business.inquirer.net/122247/metro-pacific-joins-msci-philippines-index-replaces-smc

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Stock News 2013: P10B project in Lapu-Lapu

The departure hall of Mactan Cebu International Airport on Mactan Island. (Photo credit: Wikipedia)

Megaworld Corp., one the country’s biggest property developers led by tycoon Andrew Tan, is creating its first ever masterplanned township project in the Queen City of the South that is Cebu, as it targets to provide an unrivalled lifestyle of luxury and convenience in the Visayas.

Located in Lapu-Lapu City, the 16-hectare Mactan Newtown is set to replicate what Megaworld has created in Eastwood City and its other townships within the metropolis, according to Noli Hernandez, president of Megaworld Cebu Properties Inc.

Rising in the middle of Cebu’s hottest tourist destination, this live-work-play township is envisioned to provide a consummate lifestyle in which people need not venture out for work, leisure or recreation.

It has recently officially opened for business with the grand opening of the biggest McDonald’s outlet in Central Visayas. Once completed, the Mactan Newtown will boast a masterful mix of residential enclaves, office towers, commercial establishments and recreational facilities.

THE 16-HECTARE Mactan Newtown is set to replicate Megaworld’s previous township developments in Metro Manila.

“At Mactan Newtown, we will be giving the Cebuanos more time for things that really matter and allow them to live more fulfilling lives. This vision sprang from the simple recognition of the need for more intelligent communities that actually work, and it’s a vision that has been translated so far to Megaworld’s other phenomenally successful townships in Metro Manila,” Hernandez explains.

“Megaworld has been known for its previous masterpieces in Manila such as Eastwood City, The McKinley Hill and Newport City. As in these other developments, local and foreign investors can expect nothing less than a solid and steady appreciation of property values, given the synergies that can only be created when world-class components of living, working and playing are put together,” he further says.

According to Hernandez, future residents of the P10-billion development can “look forward to a unique lifestyle that is both dynamic and laidback, luxurious but accessible, visionary but real and tangible.”

He stresses that buying a unit at The Mactan Newtown is not simply about acquiring a dwelling place, but rather about becoming part of a community.

MANGO Trees line the Mactan Newtown’s wide pedestrian lanes.

“[It is] where even the smallest studio unit provides access to a full suite of recreational facilities, from a fully-equipped gym, a 20-meter lap pool, an aqua gym, a rock-climbing wall, a tennis court, an indoor spa, culinary station and a function room, not to mention an ultra modern hotel-like lobby,” Hernandez notes.

The township’s proximity to various resorts and the availability of water sports activities, Hernandez adds, also highlights the uniqueness of the community. And if these weren’t enough, stepping out of one’s residential tower also means being served a feast of various international dining and shopping options located within the township.

http://business.inquirer.net/105519/p10b-project-in-lapu-lapu-to-change-cebu

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Stock News 2012: Alliance Global unit hits record sales in Q1

The property group of tycoon Andrew Tan’s Alliance Global Group Inc. (AGI) is off to a strong start, with reservation sales growing 52 percent in the first quarter to a record P16.4 billion.

Given a buoyant property market and a low interest rate regime, AGI said it is optimistic growth will continue for the rest of the year with reservation sales seen hitting P55 billion or an increase of 48.6 percent from the P37 billion recorded in 2011.

The group sells real estate products under Megaworld Corp., Empire East Land Holdings Inc., Suntrust Properties Inc. and Global-Estate Resorts Inc. (GERI). Each of the companies caters to niche markets ranging from the luxury, middle-income and affordable home sectors to the vacation homes segment.

Megaworld, one of the country’s leading residential condominium developers and the largest BPO office developer and landlord, showcases a variety of township projects all over Metro Manila. Each of these live-work-play-learn-shop communities, including Eastwood City, Newport City, McKinley Hill, Manhattan Garden City and Uptown Bonifacio, offers at least 500,000 square meters of residential space and 200,000 square meters of BPO office space.

“Megaworld’s strong performance for the first quarter of this year can be attributed to superior product offerings that address on a large scale the Filipinos’ need for quality, affordable homes in the very best locations,” said Megaworld senior vice-president for marketing Noli Hernandez.

Sales of Empire East and Suntrust, AGI’s middle-income and affordable housing brands, respectively, came from the strong marketing of the companies’ multi-tower condominium developments in the metro and sprawling residential communities in the Calabarzon.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=803330

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Stock News 2012: Alliance Global posts record P11.6-B profit

Casino logo (Photo credit: Wikipedia)
Alliance Global Group Inc. (AGI), the listed holding firm of real estate tycoon Andrew Tan, jacked up its net income by 68 percent last year to a record P11.6 billion on robust growth of its property business.

In a financial report submitted to the Philippine Stock Exchange, AGI said revenues hit an all-time high of P66.1 billion or an increase of 48.5 percent from the year before.

AGI chief financial officer Dina Inting said the company booked a non-recurring gain of P3.1 billion from the acquisition of a subsidiary during the period. The recurring portion alone translated into a 22 percent year-on-year profit growth.

As of end-December 2011, AGI’s total cash and cash resources stood at P49 billion.

Property arm Megaworld Corp. chipped in P28.6 billion or 40 percent of AGI’s total revenues. The amount is 39 percent higher than the 2010 level.

As a result, Megaworld reported a 60 percent growth in net income to P8.15 billion, boosted by a non- recurring gain of P2 billion from the sale of AGI shares of stock. Without this, its profit is still up 21 percent year on year.

Megaworld’s performance was backed by strong sales from its residential projects in Newport City, McKinley West and McKinley Hill, Eastwood City as well as strong leasing income from its BPO and retail portfolio.

Revenues and profits from the food and beverage, quick services restaurants and integrated tourism businesses likewise grew in line with targets, AGI said.

Food and beverage arm Emperador Distillers produces Emperador, Generoso and Emperador Light brandies and a line of flavored alcoholic beverages called The Bar.

Golden Arches Development Corp. operates the quick service restaurant business under the McDonald’s brand while Travellers International Hotel Group, a joint venture with Genting Hong Kong, operates Resorts World Manila, the first integrated tourism estate in the country.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801327

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