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LT Group Inc. , the listed holding company of tycoon Lucio Tan, said Tuesday it earned a net income of P17.46 billion in the first half of 2024, or nearly flat from P17.43 billion recorded in the same period last year.
It said the slight decline was due to lower profit of the tobacco business which was offset by the improvements across other segments. “The overall industry volume continues to be affected by the increasing incidence of illicit trade in the country,” LT Group said. Net income of the distilled spirits segment amounted to P712 million in the first half, or 14 percent higher than P626 million reported in the same period last year.
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