AGI Reports Net Income of ₱2.2 Billion in Q3

Alliance Global Group Inc. (AGI) reported net income of ₱2.2 billion in Q3 of 2020, following a net income of ₱156 million in Q2.

Consolidated revenue year-to-date for the year reached ₱91.8 billion, down 28% from last year’s ₱127 billion.

Kevin Tan, CEO of AGI, said “We are very encouraged by the sharp improvement in earnings across all our business segments during the third quarter as the economy gets a reboot with the further easing of the quarantine restrictions,”

“We are optimistic that we can maintain this sequential improvement following the trajectory of the economy which we expect to slowly improve,” he added.

In Q3 of 2020, Megaworld posted net income of ₱2 billion, Emperador posted net income of ₱2.5 billion, McDonald’s posted net income of ₱4.5 billion, and Traveller’s International, operator of Resorts World Manila, posted a net loss of ₱1.7 billion.

Source: ABS-CBN