Alliance Global Group, Inc., the investment holding company of businessman Andrew Tan, posted a consolidated net income of P4.7 billion for the first nine months of 2009, up 16 percent year on year.

In a disclosure to the Philippine Stock Exchange, AGI said it’s net income attributable to shareholders rose by 28 percent to P3.2 billion from P2.5 billion in the first nine months of 2008.

Consolidated revenues during the nine-month period reached P25.6 billion, up 7 percent from P23.9 billion in the same period last year.

AGI’s property arm Megaworld Corporation accounted for 50 percent of revenues during the period compared with 45 percent from the consumer business, primarily through Emperador Distillers, and Golden Arches Development Corporation, master franchise holder of McDonald’s in the Philippines.

The balance of 5 percent came primarily from finance and other income, which consolidated total increased to P2.05 billion from P1.75 billion a year ago.

Earnings before interest, taxes, depreciation and amortization in the first nine months of 2009 amounted to P7.6 billion, up from P6.2 billion a year ago.

For the January to September period, Megaworld generated a net income of P3 billion, net of minority interest, up 5 percent from P2.9 billion a year ago. The consumer business, meanwhile, generated a net income net of minority interest of P756 million, up 14 percent year on year.

“AGI had a relatively strong first three quarters despite the tough global economic conditions — proof that the fundamentals of our business remain strong,” said AGI president Kingson Sian.

“We are confident that we executed the right strategies last year and took the right actions to drive the sustained growth of AGI,” Sian added.

He was referring to AGI’s expansion efforts under its three existing businesses — property, food and beverage and quick service restaurants — and its recent foray into hotel and tourism under a joint venture with Star Cruises Limited of Hong Kong through AGI subsidiary Travellers International Hotel Group, Inc.

Star Cruises is part of the Malaysian conglomerate Genting Berhad, and is the world’s third largest cruise line operator.

“We believe that our existing projects will be able to position AGI as a major player in growing tourism industry in the country,” Sian said.