Alliance Global nets P12B
Alliance Global Group Inc. (AGI) recorded profit of P12 billion in the first nine months in 2021, up 106.9 percent from P5.8 billion last year.
Revenues hitP110 billion, up 20 percent fromP91.8 billion last year.
“AGI delivered these strong results even amid the health crisis while tapping on its internal strengths — its differentiated products and services, extensive distribution network, diversified operations, massive landbank and healthy balance sheet,” said Kevin Tan, AGI chief executive officer.
“The pandemic has also prompted our organization to maintain our cost efficiencies in most areas of our operations. This provided a major boost in our nine-month consolidated net margin which went up 500 basis points from year ago level,” he added.
GT Capital profits at 8.8B
GT Capital Holdings Inc. said profit for the first nine months hit P8.7 billion, up 168 percent from P3.2 billion last year.
“The conglomerate’s core net income increased 115 percent to P8.1 billion in January to September 2021 from P3.7 billion during the same period last year,” it said.
The group said it was driven by Metropolitan Bank & Trust Co. (Metrobank), the net income of which amounted to P16.1 billion, and Toyota Motor Philippines (TMP), which realized a net income of P4.6 billion.
Vista Land revenues hit P11B
Vista Land & Lifescapes Inc. reported P3.8 billion in profit in the first nine months , up 9 percent from last year.
Revenues reached P11.1 billion, down 13 percent, due to the slower construction activities in the provincial areas where various level of lockdown were implemented during the period. Leasing income reached P3.6 billion, up 6 percent.
Vista Land said its newly opened commercial centers, where the majority of the tenants are essential (i.e. home store and supermarket), contributed to the topline growth.
First Gen RE posts higher revenues
First Gen Corp. booked an 11 percent improvement in its recurring net income attributable to equity holders at P10.3 billion for the first nine months of the year from last year’s P9.6 billion.
First Gen said it benefited from higher electricity sales, led by the 97 megawatts (MW) Avion natural gas-fired power plant.
“Our clean and renewable energy platforms generated higher revenues for the nine months of 2021 as power demand recovered to pre-pandemic levels. Revenue growth also reflected the higher fuel commodity prices experienced all over the world,” said Francis Giles Puno, First Gen president and chief operating officer.
