LT Group Inc. said profit in the first half of the year reached P12.80 billion, almost flat compared to the prior year as the majority of its subsidiaries posted higher profits during the period.
“Philippine National Bank’s contribution improved by 4.5 percent to P5.77 billion or 45 percent of total. The tobacco business added P4.87 billion or 38 percent,” the Lucio Tan-led group said in a statement.
“The contribution of Tanduay Distillers Inc. rose 14.3 percent to P712 million or 6 percent while Asia Brewery boosted contributions by 49 percent to P508 million or 4 percent,” it added.
LT Group said the realty business under Eton Properties Philippines Inc. posted a profit contribution of P326 million, up 59 percent, while the sugar milling business under Victorias Milling Company accounted for P277 million or 2 percent.
“Other Income surged 65 percent to P336 million of total or 3 percent,” it said.
LT Group closed the period with a cash position of P1.99 billion.
