LT Group, Inc. (LTG) posted an attributable net income of P8.87 billion in the second quarter, reversing last year’s net loss of P2.76 billion, as its topline increased by 7.3% to P23.65 billion.

In the first half, its net income attributable to parent firm equity holders rose to P15.4 billion, more than four times last year’s P3.73-billion income.

Revenues rose to P45.76 billion in the first six months, a 3.7% increase from the previous year’s P44.14 billion.

Banking unit Philippine National Bank reported a net income of P11.15 billion during the semester, 50% lower than P22.2 billion a year ago.

Its tobacco segment reported a 14% decline in net income to P7.77 billion from P9.01 billion reported last year.

Tanduay Distiller, Inc. registered a P564 million net profit during the six-month period, 7% lower than the P605 million last year, after incurring higher costs due to a rise in the prices of alcohol and fuel.

Asia Brewery, Inc.’s income was also lower at P294 million, down 14% from last year’s P343 million.

Eton Properties Philippines, Inc. reported a net profit amounting to P258 million, also a decline from last year’s P288 million by 10%.

The company said that “LTG’s balance sheet remains strong” by having a debt-to-equity ratio of 3.68:1 with the bank, and 0.14:1 without the bank at the end of the quarter.

On the stock market on Friday, shares in LTG climbed by 2.4% or 21 centavos to P8.95 apiece. — Justine Irish DP. Tabile