GT Capital improves H1
GT Capital Holdings Inc. said profit for the first half of the year reached P6.77 billion, up 147.08 percent from last year’s P2.74 billion.
Revenues reached P85.66 billion, up 62.79 percent from P52.62 billion last year.
The company said core profit was at P5.8 billion, up 83 percent to P5.8 billion from P3.2 billion last year, driven by Metropolitan Bank & Trust Co. whose profit hit P11.7 billion, as well as Toyota Motor Philippines which realized a profit of P3.5 billion.
“Stronger real estate sales from Federal Land Inc. ) and a higher net income contribution from associate Metro Pacific Investments Corp. also contributed to GT Capital’s positive performance in the first half of 2021,” the Ty-led group said.
Carmelo Maria Luza Bautista, GT Capital president, said the group’s “strong” first half results “are approximately 80 percent of 2019 pre-Covid levels.”
GMA7 nets P3.66B
GMA Network Inc. said profit last year reached P3.66 billion, up 161 percent from P1.4i billion a year ago, as advertising revenues significantly increased.
Consolidated advertising revenues soared to P9.9 billion, a 61 percent increase from P3.74 billion. All airtime-revenue generating platforms yielded upbeat sales results versus same period last year.
“Apart from the hefty gains from regular operations, this period’s noteworthy increase was further accentuated by the reduction in corporate income taxes from 30 percent to 25 percent following the enactment the Corporate Recovery and Tax Incentives for Enterprises Act.” GMA said.
Along with the increase in revenues, the company’s total consolidated operating expenses in the first half this year, similarly grew by 25 percent from a year ago, albeit at a rate which is much slower than the improvement in the top line.
DMCI Mining income surges
DMCI Mining Corp. said profit for the first half of theyear reached P1.2 billion, up 397.9 percent from P241 million last year.
Revenues reached P2.7 billion, up 125 percent from P1.2 billion last year.
DMCI Mining revenues in the first half grew 123 percent from P1.2 billion to P2.7 billion.
Including a nonrecurring income of P247 million mainly due to deferred tax liability remeasurement and 2020 income tax adjustment under CREATE Act, its standalone net income soared 409 percent from P241 million to P1.2 billion.
DMCI Mining shipped 1.24 million wet metric tons (WMT) of nickel ore for the period, an all-time high and 45 percent up from the 853,000 MWT shipped last year.
“This is the first time that both our mining assets are operating at full capacity. We expect shipments to remain strong in the second half since we were able to extend Berong’s mine life from June until the third quarter of this year,” said Tulsi Das Reyes, said DMCI Mining president.
DM Wenceslao profit at P853M
DM Wenceslao and Associates Inc. said profit for the first half of the year reached P853 million, up 18 percent from last year’s P466.12 million.
Revenues reached P1.24 billion, down 20 percent from P1.55 billion.
The company said residential revenues hit P267 million, down 51 percent, as only P110 million revenues were booked for Pixel Residences during the period, down from P517 million in the 1H2020.
Revenues from MidPark Towers reached P156 million, up from P29 million last year.
Recurring income consisting of rentals from land, building, and other revenues such as common use service area fees was at P974 million, accounting for 78 percent of revenues.
The Keepers sales up 35%
Lucio Co-led The Keepers Holdings Inc. (The Keepers) said profit for the first half of the year reached P650.7 million, up 56.8 percent from P415.0 million last year.
Sales reached P4.30 billion, up 34.8 percent from last year’s P3.19 billion.
The Keepers’ brandy segment, led by flagship brand “Alfonso”, registered a 58.6 percent sales growth in the first half of 2021. The brandy segment now accounts for 78.1 percent of the group’s total sales by volume.
AllDay earnings hit P179M
AllDay Marts Inc., said profit for the first half of the year reached P179.6 million, up 58.8 percent from last year P113.09 million.
Sales reached P4.49 billion, up 19.7 percent from last year’s P3.75 billion.
Manuel Villar Jr, chairman at AllValue Holdings Corpc., AllDay’s parent company. said the company, which is eyeing a public sale to raise fund, “has already registered a record net income of 13-fold since its incorporation in December 2016.”
“From a net income of P17 million in 2017, the AllDay chain generated P220 million in net income for the year 2020. That translates to a compound annual growth rate of 134 percent,” he said.
The AllDay supermarket store network now stands at 33 locations, nationwide with a solid expansion pipeline.
Agrinurture H1 down
AgriNurture Inc. said profit for the first half of the year reached P122.07 million, down 65.8 percent from P356.99 million.
Sales reached P2.31 billion, up 20 percent from P1.79 billion last year.
The company however brought attention to its recurring operating profit which grew 65 percent to P102.5 million from P61.87 million last year.
“In the first six months of 2020, ANI booked non-operating income amounting to P281.33 million mainly as a result of the increase in trademark valuation for the Group’s ‘Big Chill’ brand,” Agrinurture said.
DoubleDragon topline drops
DoubleDragon Properties Corp. said it reported a “core” profit of P3.72 billion for the first half of the year, as revenues reached P2.69 billion.
The company did not provide the comparative figures for its results and has yet to file its quarterly financial statement. Its topline figures however is a 66.83 percent drop from the P8.11 billion recorded a year ago – the company does not include in its financial statement the comparative figure for “core profit.”
It said recurring revenues was at P1.99 billion, a 5.96 percent increase from P1.88 billion last year primarily, as rental income grow 6.62 percent to P1.71 billion from P1.61 billion last year.
DoubleDragon closed the period with assets of P131.47 billion, up 8.74 percent from P120.91 billion in end-2020. Equity hit P61.03 billion, up 24.40 percent from P49.06 billion last year. Net debt-to-equity ratio was 0.58x.
