LT Group profit hits P21B

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    LT Group Inc. said profit last year reached P21.02 billion, down 9.1 percent from 2019’s P23.12 billion.

    Philippine National Bank (PNB) contributed P1.55 billion or 7 percent of total attributable income.

    The tobacco business accounted for P16.83 billion or 80 percent.

    Tanduay Distillers Inc. contributed P1.1 billion or 5 percent.

    Eton Properties Philippines Inc. accounted for P799 million or 4 percent, while Asia Brewery, Inc. contributed P583 million or 3 percent,” the company said.

    The 30.9 percent stake in Victorias Milling Co. Inc. accounted for P264 million or 1 percent.

    LT Group closed 2020 with a debt-to-equity Ratio of 4.30:1 with the inclusion of its banking operations, and at 0.16:1 without the bank.