LTG nets P9.4B
Tycoon Lucio Tan-led LT Group Inc. (LTG) grew its attributable net income last year by 41 percent to P9.39 billion on higher earnings across its banking, tobacco, liquor and real estate businesses.
Philippine National Bank (PNB) accounted for P3.42 billion or 36 percent of LTG’s attributable income.
The tobacco business contributed P2.58 billion or 27 percent of total, followed by Asia Brewery Inc.
(ABI) at P1.75 billion or 19 percent.
Tanduay Distillers Inc. (TDI) added P908 million or 10 percent and Eton generated P388 million or 4 percent.
Equity in net earnings from Victorias Milling Company Inc. (VMC) amounted to P142 million, or 2 percent of total.