MANILA -- Andrew Tan's Alliance Global Group, Inc. (AGI) posted a 66 percent spike in first quarter earnings, with net income up to P11 billion.

This includes one-time gains from the deconsolidation of Golden Arches Development Corporation (GADC)--also known as McDonald's Philippines--from the financial statements of AGI. AGI retains a 49 percent interest in GADC, which is now considered an associate after securing a new license term from McDonald's Corporation.

Minus that, AGI still posted a robust 14 percentr growth with a normalized net income of P7.5 billion, while revenues inched up 3 percent to P51.9 billion.

Topline growth was driven largely by healthy real estate sales, robust revenues from tourism-related segments, and strong leasing income from both premium offices and lifestyle malls.

More specifically, Megaworld saw attributable net income soar 16 percent to P5.1 billion. Revenues from the Megaworld Hotels and Resorts rose by 27 percent to P1.4 billion because of higher average daily rates, buoyed by more domestic tourism and meetings, incentives, conventions, and exhibitions.

Megaworld Premium Offices also saw 17 percent higher revenues, while those from Megaworld Lifestyle Malls grew by 11 percent to P1.7 billion.

Meanwhile, Newport World Resorts operator Travellers International saw its earnings before interest, tax, depreciation, and ammortization jump 42 percent because of higher gaming and non-gaming revenues.