GT Capital profit hits P20B
GT Capital Holdings Inc. said profit last year reached P20.3 billion, up 54 percent from P13.2 billion the prior year.
Core profit, however, was at P15.8 billion, up 22 percent from P12.9 billion.
Revenues reached P222.9 billion, up 8 percent from P205.8 billion.
The company said its banking business contributed the largest, comprising 41.4 percent of its bottomline. The automotive business contributed 20.5 percent of bottomline, followed by infrastructure at 15 percent, property at 6.5 percent, at insurance at 2.6 percent.
The company said 14.6 percent of its net income last year came from the sale if realty arm Property Company of Friends.
Shell income up 11%
Pilipinas Shell Petroleum Corp. (PSPC) reported an 11-percent increase in income for 2019 at P5.6 billion, compared with P5.07 billion the previous year, attributed to strong marketing delivery and refinery cost savings.
The company said these initiatives helped temper the suppressed regional refining margins and higher excise taxes that affected the entire oil industry.
PSPC said its retail volumes grew by 1.2 percent despite higher excise taxes as its non-fuel retail business posted 15 percent earnings growth.
The company meanwhile assured its customers of continued operations of its stations nationwide and stable supply of fuel amid the community quarantine in Luzon and other parts of the country, while also maintaining a strong balance sheet to manage uncertainties amid the coronavirus crisis and crude oil price volatility.
PSPC currently has a retail network of 1,126 sites in key locations.
According to the Department of Energy, the company had a market share of 17.93 percent as of first half of 2019.
LT Group net rises 43%
LT Group Inc. reported profit last year rose 43 percent P23.12 billion, from P16.19 billion the prior year.
“This is the highest income the company has achieved since its re-IPO in April 2013,” LT Group said.
Its tobacco business accounted for P15.50 billion or 67 percent of total attributable income, Philippine National Bank (PNB) contributed P5.57 billion or 24 percent, Eton Properties Philippines Inc. added P896 million or 4 percent, Tanduay Distillers Inc. accounted for P676 million or 3 percent, and Asia Brewery Inc. provided P398 million or 2 percent.
Its 30.9 percent stake in Victorias Milling Company Inc. accounted for P251 million or 1 percent, LT Group said.
Profit of the tobacco business grew 78 percent to P15.56 billion, from P8.75 billion in 2018.
Equity in net earnings from the company’s 49.6 percent stake in Philip Morris Fortune Tobacco Corp. stood at P15.40 billion, up 82 percent from 2018’s P8.46 billion.
