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AGI Posts Record-Breaking P30-B Net Income in 2023

By Miong Pelimon - Wednesday, April 17, 2024

Alliance Global Group, Inc. (AGI), the holding company of tycoon Dr. Andrew L. Tan, achieved a record-breaking net income of P30.3-billion, up 20% year-on-year despite higher inflation, which pushed overall costs and expenses up during the period. Attributable net profit stood at a new high of P19.6-billion, reflecting a 21% increase from the year before.

Consolidated revenues hit an unprecedented level of P211.2-billion, reflecting a robust 15% growth from P183.6-billion the year before.

“2023 was a historic year for the Group as it delivered excellent performance across all of its businesses, led by its real estate, tourism and consumer segments. This was achieved even amid heightened competition in the domestic and global market, various macro challenges in some key markets, rising cost pressures and higher interest rates. Most of our businesses have forged results beyond pre-pandemic levels, even posting new highs in terms of sales, EBITDA, net profit, and all other operating metrics. Such strong performance has encouraged us to carry on with our aggressive business strategies and expansion plans across our diversified portfolio,” says Kevin L. Tan, chief executive officer, AGI.

AGI has varied interests spanning real estate developments through property giant Megaworld Corporation; spirits manufacturing through Emperador Inc.; leisure, entertainment, and hospitality through Travellers International Hotel Group, Inc.; quick service restaurants (QSR) through Golden Arches Development Corporation (GADC), popularly known as McDonald’s Philippines; and infrastructure development through Infracorp.

Premier township developer Megaworld registered a 17% increase in consolidated revenues to P69.7-billion in 2023 from P59.5-billion the year before. This was driven by the sustained 16% year-on-year growth in real estate sales, the sharp recovery in the revenues of Megaworld Lifestyle Malls by 54% and Megaworld Hotels by 46%, in addition to the 3% rise in rentals of Megaworld Premier Offices. Supported by the stable growth in consumer spending and foot fall as the economy continues to recover, occupancy rates of Megaworld’s office spaces, malls, and Metro Manila hotels stood at 88%, 93%, and 67%, respectively. Meanwhile, reservation sales surged anew to P139-billion, boosted by project launches during the year amounting to P73-billion.

Travellers International, the Group’s leisure and tourism arm and owner-operator of Newport World Resorts (NWR), also broke new records in 2023 with net revenues growing by 19% year-on-year to P31.9 billion. This was driven by the resurgence in tourism and meetings, incentives, conferences, and exhibition (MICE) activities, which allowed for a stellar 40% year-on-year increase in hotel and other revenues to P7.4 billion, while its gross gaming revenues went up by 7% to a new high of P34.2 billion. Despite rising cost pressures, EBITDA over the same period went up by 8% year-on-year to P8.2 billion, its highest level since 2012. Net income also grew by a robust 89% to P2.0 billion from last year’s P1.1 billion.

Emperador, the biggest global brandy company and amongst the fastest-growing Scotch whisky manufacturers, reported a 5% increase in consolidated revenues of P65.6 billion from year-ago level of P62.8-billion. This was driven by the sustained improvement in international whisky sales as Whyte and Mackay’s single malt brands The Dalmore, Fettercairn, Jura, and Tamnavulin continue to make significant inroads in major markets like Asia (mainly China), North America, and travel retail. Emperador Brandy has also maintained its dominance in the domestic brandy market. Attributable net income stood at P8.6-billion.

GADC also sustained its strong growth trajectory in 2023 across all operating levels, driven by the sustained improvement in consumer spending. A long-term partnership between AGI and the George Yang Group that holds the exclusive franchise to operate ‘McDonald’s’ restaurants in the Philippines, GADC reported a record level of sales revenue of P42.8-billion, an increase of another 24% from P34.4-billion the year before. Systemwide sales also grew by 22%, backed by SSSG of 15% year-on-year. Even with challenges brought about by higher raw material costs and operating expenses, the company registered attributable profit of P2.5 billion from P1.8-billion a year ago. McDonald’s Philippines closed the year with 740 stores throughout the country.

“For 2024, we look forward to the much-anticipated policy rate cuts as inflation begins to ease, improving the economic and business environment with the resurgence in consumer spending, as well as demand for housing, tourism and staycation activities. Armed with our superior product offerings, AGI is well-positioned to take advantage of these enormous opportunities as they unfold,” adds Tan.

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Features

Teleperformance hailed among prestigious Philippines Best Workplaces in 2024

By Miong Pelimon - Monday, April 15, 2024

Teleperformance (TP) in the Philippines, a leading global digital business services company, has once again achieved the remarkable feat of being named one of the Philippines Best Workplaces™. Ranking fifth on the prestigious list, the organization received the award at the Grand Hyatt Manila on March 19.

Teleperformance Philippines ranked fifth in the prestigious list curated by the Great Place to Work® researchers.

"Being named one of the Philippines Best Workplaces™ is a huge honor for our entire team at Teleperformance Philippines. Our leadership team is committed to making our mantra a reality for our team members across the Philippines. I’ve said this once and I’ll say it again: our people are our greatest asset,” said Chief Executive Officer Rahul Jolly.

The Top 10 list is determined by Great Place To Work®, a global leader in workplace culture, which annually surveys over 20 million employees worldwide to determine positive workplace experiences and help organizations build the trust of their employees.

In 2023, TP made it into the top five of the Philippines Best Workplaces™ in IT-BPM. The organization also celebrated a significant milestone by receiving its sixth Great Place to Work recertification in the same year, the only organization in the Philippines to achieve this accomplishment.

"We are especially proud to receive the recognition of being named one of the Philippines Best Workplaces™ 2024 this Women’s Month. Gaining another spot on the prestigious list by the Great Place to Work® organization is a reflection of our ongoing efforts to empower people and provide rewarding opportunities to diverse individuals and communities alike. We celebrate this achievement with our entire Teleperformance Philippines team,” Chief People Officer Jeffrey Johnson stated.

Adding to its list of accolades, Teleperformance Philippines was awarded Best in Remote Work Technology at the Contact Center World Award in late 2023. In the same year, its LGBTQ+ employee resource group, TP Pride, was also named Pride Network of the Year by Philippine Financial and Inter-Industry Pride (PFIP).

The organization continues to distinguish itself through various programs and initiatives, such as the newly launched Skills Training to Employment Program (STEP) in partnership with the Pasig City local government, which equips impact groups with essential contact center skills; and the TP Cloud Campus, a groundbreaking work-at-home solution, which allows employees nationwide to work anywhere, securely and efficiently.

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‎ Technology

Phonak Lumity: defining confidence and comfort in hearing care

By Miong Pelimon - Monday, March 04, 2024

Manila Hearing Aid (MHA), the leading hearing care provider in the Philippines together with Phonak, a global player in innovative hearing solutions, has launched the Lumity series, the next generation of lifestyle-centric hearing aids that are designed for all kinds of lifestyle.

Manila Hearing Aid has served as the pioneer of Philippine hearing care since 1976. For over 47 years, it took the mantle of providing the latest in hearing solutions and diagnostic testing to the nation. Today, Manila Hearing Aid has 16 clinics nationwide and has partnered with numerous international hearing solution provider brands to achieve its long-term vision of making hearing health more accessible for Filipinos.

Phonak Lumity Launch in Cebu (L-R): Dr. Liza Abano-Robles, President of Manila Hearing Aid, Ms. Susan Javier, Manila Hearing Aid Clinic Training Consultant, Sng Lay Choo, Senior Audiologist & Brand Champion of Phonak Representative Services Sonova Singapore, Kyra Mahinay, Manila Hearing Aid’s Brand Ambassador and Mr. Tze Peng Chua, Managing Director of Sonova Singapore

Dr. Liza Abaño-Robles, President of Manila Hearing Aid seeks to encapsulate this vision, stating, "Many Filipinos tend to downplay hearing loss or even consider it as unnoticeable. That’s why our main goal is to send a message that hearing wellness is just as important and should be considered as part of one’s overall health.”

"Our commitment is to provide top-of-the-line, and the most advanced and strategically tech-driven audiological products that enhance the quality of life through improved hearing," Abaño-Robles added.

Conversations shine with Phonak Lumity

The Lumity series has positioned itself as an all-around hearing care solution by effectively addressing the diverse quality of life needs and varying degrees of hearing loss experienced by consumers.

Specifically tailored to navigate the intricate challenges that individuals encounter in their daily lives, Lumity shines with its distinctive feature: an ability to have a much-improved speech understanding, especially in noisy environments. Seamlessly integrating improved hearing into daily activities and conversations is the central ideology of an effortless auditory experience. Whether engaging in meaningful conversations or amidst ambient noise, Phonak Lumity empowers users to concentrate on the sounds that truly matter, contributing significantly to an improved quality of life.

The hero product from the Lumity line is the Phonak Slim™ Lumity, an award-winning hearing aid with a sleek ergonomic design. It earned the prestigious title of Hearing Technology Innovator 2023 in the hearing aid design category as recognized by Hearing Health & Technology Matters (HTTM). The modern and state-of-the-art design of Phonak Slim™ is crafted to naturally match the contour of the ears, serving not only clinical purposes but also as a stylish hearing solution; combining functionality and style in one powerful device. Phonak Slim™ addresses the stigma towards traditional bulky design by bringing in sleek and stylish-looking hearing aids. The Phonak Slim™ is a unique, premium device available in four colors to match individual styles and boost confidence.

As a testament to its commitment to expanding its offering to the ever-changing consumer needs, the Lumity series also introduces the Phonak Naida Lumity™, referred to as one of its most powerful hearing aids tailored for moderate to severe hearing loss. With customizable settings for specific listening situations and improved noise cancellation, it promises resilience in virtually every scenario. Phonak Audéo Life™ Lumity also stood out as one of the best-selling products from Manila Hearing Aid. It holds the distinction of being the world's first waterproof rechargeable hearing aid and pioneering the new SmartSpeech technology. As an addition to the Lumity lineup, the Phonak CROS Lumity™ is built for individuals facing unaidable hearing loss in one ear. This model seamlessly integrates with compatible Phonak hearing aids, amplifying environmental awareness by transmitting sounds from the unaidable ear to the hearing aid-fitted good ear, resulting in an uninterrupted listening experience.

With the Lumity series launching into the Philippine market in March 2024, Manila Hearing Aid and Phonak are aiming to step up the game in the hearing care market by offering specific hearing solutions that suit every patient’s needs. This effort only means that Manila Hearing Aid is steadfast in its mission of enabling Filipinos with the right hearing care solutions that contribute to their holistic well-being.

In Cebu, they are located at the 2nd Level, SM City Cebu, North Reclamation Area, Cebu City.