{"id":329040,"date":"2024-08-19T00:09:41","date_gmt":"2024-08-18T16:09:41","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329040"},"modified":"2024-08-19T00:09:43","modified_gmt":"2024-08-18T16:09:43","slug":"trade-the-news-agi-net-income-dips-to-878-billion","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-agi-net-income-dips-to-878-billion\/","title":{"rendered":"Trade the News: AGI’s net income dips by 4% to P8.78 billion"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEGATIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Alliance Global Group Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>AGI<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 11.64<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

AGI saw its profit dip by 4% in the first half despite achieving higher revenues. AGI reported net income attributable to parent equity holder of P8.78 Billion for the 1st half (1H) 2024 vs last year’s P9.25 Billion.<\/p>\n\n\n\n

Still, the company touted in a press release that it chalked up a strong performance in the first half of 2024 following a “resurgence in activities across all business segments in the second quarter.” <\/p>\n\n\n\n

The conglomerate led by tycoon Andrew Tan ended the first six months of 2024 with consolidated revenue of P107.5 billion, 8% higher from P99.1 billion the year before.
In the second quarter, AGI saw a sustained rise in contribution from its real estate and quick service restaurants businesses, underpinned by resilient consumer spending. <\/p>\n\n\n\n

The Group benefited from a sharp recovery in spirits demand in the global market, coupled with improved activities from its leisure and tourism arm after a sluggish start. Consolidated revenue grew by 16% year- on-year (YoY) or 12% quarter-on-quarter (QoQ) to P56.8-billion, hiking AGI\u2019s net income to P7.2- billion. Attributable profit amounted to P4.6-billion over the same period.<\/p>\n\n\n\n

\u201cThe Alliance Global Group mustered a strong recovery in the second quarter of the year despite the generally sluggish global economy, as well as the challenges brought about by elevated inflation, interest rates and an unstable currency,\u201c says Kevin L. Tan, President and Chief Executive Officer of AGI.<\/p>\n\n\n\n

(News Source: PSE Edge<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329040","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329040"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329040\/revisions"}],"predecessor-version":[{"id":329042,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329040\/revisions\/329042"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}