Alliance Global Group, Inc. (AGI), the investment holding company of Andrew Tan, reported a 29 percent jump in net income for the first half of 2009 to P3.4 billion.

The firm said in a disclosure to the Philippine Stock Exchange that its net income attributable to shareholders during the period under review rose 44 percent to P2.4 billion from the P1.7 million posted a year ago.

AGI’s consolidated revenues during the period reached P17.3 billion, up 12 percent from P15.4 billion in the same period last year.

AGI’s property arm Megaworld Corporation accounted for 50 percent of revenues during the period compared with 43 percent from the consumer business through Emperador Distillers and Golden Arches Development Corporation.

The balance came from other income, including interest and other income, which increased to P1.6 billion from P1.4 billion a year ago.

Earnings before interest, taxes, depreciation and amortization in the first half of 2009 amounted to P5.2 billion, up from P4 billion a year ago.

Megaworld’s first-half net income of P2 billion, net of minority interest, contributed P1.1 billion to equity holders of AGI during the period, a third higher than the P820 million posted a year ago. “Our solid operating performance in the first half of the year is proof that our consistent strategies are working,” said AGI president Kingson Sian.

He added that “together with our productivity efforts, we are focused on investing for the long-term in key, high-growth industries in the country, particularly in the tourism sector.”

Apart from real estate through Megaworld, AGI has interests in the consumer business through Emperador Distillers and Golden Arches Development Corporation.

Emperador Distillers is the maker of leading brandies Emperador and Generoso and the recently launched The Bar, a line of flavored alcoholic beverages. Golden Arches is the master franchise holder of McDonald’s in the Philippines.

In 2008, AGI, through its subsidiary, Travellers International Hotel Group, Inc., entered into a joint venture with Star Cruises Limited to build the country’s first 24x7 integrated tourism city in Newport City, located across from Terminal 3 of the Ninoy Aquino International Airport. (JAL)