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Bottom line: PH companies report growth in Q1

Plus, competitions open for young business leaders and inspirational global citizens.
By Entrepreneur Staff |

Ayala Corporation
REPORTING. Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala (JAZA, left) and President and COO Fernando Zobel de Ayala report the conglomerate's net income for Q1 worth P5.8 billion. Photo from JAZA's Facebook page

 

 

Riding high

Alliance Global Group, Inc. (AGI) posted a net income of P5.3 billion ($113.57 million) in the first three months of this year, a 5% jump from the same period in 2015, with steady consolidated revenues at P33.1 billion ($709.31 million).

 

Ayala Corporation recorded a net income of P5.8 billion ($124.29 million) in the first quarter of 2016, a 15% growth from 2015, with the growth came from its real estate, power generation, and automotive businesses.

 

Megaworld grew its net income by 12.13% to P2.63 billion ($56.38 million) in the first quarter of 2016, from P2.35 billion ($50.36 million) during the same period last year.

 

Another diversified conglomerate, San Miguel Corporation said its net income surged 122% in the first 3 months of 2016 to P13.53 billion ($289.94 million) from P6.01 billion ($128.79 million) posted in the same period last year.

 

Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported unaudited consolidated financial results of P6.6 billion ($141.43 million) gross revenues with an earnings before interest, taxes, depreciation, and amortization of P1.4 billion ($30 million), resulting in a net profit of P1.2 billion ($25.72 million) at the end of the first quarter.

 

 

Competitions

The Aboitiz Future Leaders Business Summit (AFLBS) are now accepting applications.

 

“We strongly encourage qualified college students all over the country to apply for the 11th AFLBS. This country needs a fresh batch of passionate and driven leaders who will lead, excel, and serve the best way they can. The next one could just be you,” said Txabi Aboitiz, Aboitiz Equity Ventures, Inc. chief human resources officer.

 

To apply for this year’s AFLBS, an applicant must:

Be a Filipino citizen, 25 years old or younger at the time of the Summit

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Be a bonafide undergraduate student of a school / university

Be a graduating student; 4th year student of a 4-year course or 5th year student of a 5-year course (by SY 2016-2017)

Be taking up any course in the following fields of study: Business / Management, Accounting, Information Technology, Engineering, Psychology, or Pre-Law

Must not have any failing grade or any disciplinary cases inside and outside campus.

Be an active leader or officer of any student organization – student government, academic, cause-oriented, socio-civic or religious in nature

 

Applications will run until Wednesday, June 15. For more information on the 11th AFLBS application requirements, visit http://careers.aboitiz.com/future-talents/the-aboitiz-future-leaders-business-summit/ or follow AboitizLeaders on Facebook, Twitter, and Instagram using the hashtag #11thAFLBS.

 

Meanwhile, Henley & Partners is looking for individuals who have made an extraordinary contribution toward improving the global community and creating a more understanding, more tolerant world.

 

Nominations for the annual Global Citizen Award have now opened and the 2016 laureate will be honored at a gala fundraising dinner for the United Nations High Commissioner for Refugees (UNHCR) in London on Friday, November 11.

 

The award itself consists of a specially made commemorative medal, an award certificate signed by the president of the award committee and a $50,000 monetary prize, of which $25,000 is donated to UNHCR.

 

To submit nominations for the 2016 Global Citizen Award, please visit https://www.henleyglobal.com/the-global-citizen-award/. Nominations close on Friday, July 1. – Lynda C. Corpuz

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