LT Group net income climbs 15% in 2017

LT Group, Inc. reported a net income of P10.83 billion in 2017, higher by 15% compared with P9.39 billion in the earlier year and with its banking unit accounting for nearly half of earnings, the listed holding firm told the stock exchange on Friday.

Philippine National Bank (PNB) accounted for P4.83 billion of the total attributable income, or 45% of the total, with the tobacco business accounting for 40% or P4.39 billion.

Tanduay Distillers, Inc. contributed P631 million or 6%, while Asia Brewery, Inc. made up P551 million or 5%. Eton Properties Philippines, Inc. accounted for P348 million or 3%, while Victorias Milling Co., Inc., where the firm has a 30.9% stake, provided P174 million or 2%. — Victor V. Saulon