LT Group Inc., headed by billionaire Lucio Tan, saw its consolidated first quarter net income edge up 2.9 percent to P8.83 billion from P8.58 billion amid revenue growth in the banking, beverage and property segments.
Total revenues climbed 9.4 percent to P28.5 billion from P26 billion, with attributable profit marginally increasing to P6.42 billion from P6.38 billion, the group said in a stock exchange filing late on Monday.The bulk of first quarter earnings came from the banking and tobacco businesses, accounting for 46 percent and 41 percent of the total, respectively.Philippine National Bank started the year on a high note, with net income rising by 10 percent to P5.
posted a net income of P255 million, slightly down from P258 million last year, amid a low liquor volume that offset the higher bioethanol volume.'Due to the decline in liquor volume, partially offset by the effect of the early 2023 price increase, revenues were 5 percent lower year-on-year at P5.9 billion from P6.24 billion,' the group said.Asia Brewery Inc. more than doubled its earnings to P155 million from P75 million as sales rose 15 percent to P4.39 billion from P3.
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