JG Summit doubled first-quarter income to P11 billion

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JG Summit doubled first-quarter income to P11 billion
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President Ferdinand Marcos Jr. attends the inauguration of the JG Summit Petrochemicals Manufacturing Complex expansion project in Batangas City. With the president are JG Summit Holdings Inc. chairman James Go, Batangas Governor Hermilando Mandanas, JG Summit president and chief executive Lance Gokongwei, Batangas City Mayor Beverley Rose Dimacuha, JG Summit Olefins Corp. president and chief executive Arnel Santos and Department of Trade and Industry Secretary Alfredo Pascual.

The conglomerate’s first-quarter net income represented more than half of the group’s 2023 full-year results. “We kicked off 2024 with sustained improvements across our businesses, seeing robust sales volumes in our petrochemical and food businesses, as well as strong demand for air travel, leisure and hospitality services. Margins have been buoyed by a combination of volume growth, managed input costs, and operating leverage.

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