.png)
LT Group Inc. of bilyonaryo Lucio Tan saw a 16 percent decline in its first half net income to P13 billion, with reduced contributions from its tobacco, banking, and property ventures weighing on its bottomline.
LT Group Inc. of bilyonaryo Lucio Tan saw a 16 percent decline in its first half net income to P13 billion, with reduced contributions from its tobacco, banking, and property ventures weighing on its bottomline.
LTG’s tobacco arm, which typically accounts for 45 percent of total earnings, reported a 25 percent drop in net income to P5.85 billion.
The decrease in industry volume by 20 percent year-on-year to 21.3 billion sticks during the first half was attributed to a variety of factors, including a sector-wide price increase in the first quarter, heightened illicit activities, and shifts in trade inventory.
PNB, responsible for 42 percent of LTG’s income, reported a 12 percent decrease in net profit under the pooling method, reaching P9.76 billion.
Eton Properties Philippines encountered a challenging period, with earnings falling 20 percent to P206 million.
On the brighter side, Tanduay Distillers Inc. (TDI) managed to eke out an 11 percent increase in net income, reaching P626 million, despite a decline in liquor and bioethanol volume.
Liquor revenues contracted by four percent to P10.96 billion, primarily driven by a 14 percent dip in volume.
However, TDI expanded its nationwide market share for distilled spirits to 28.9 percent by the end of June, compared to 28.5 percent during the same period last year.
Asia Brewery Inc. (ABI) emerged as a standout performer, posting a 16 percent surge in first-half profitability to P340 million, as revenues climbed by three percent to P8.41 billion.
ABI’s strong performance was underpinned by heightened volumes for Cobra energy drink and bottled water. Cobra energy drink retained a dominant market share of 58.9 percent, while bottled water brands Absolute and Summit secured the third-largest share at 18.5 percent.
ความคิดเห็น