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LT Group net profit down by 61% to P1.61B in Q1

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Screengrab from ltg.com.ph

The Lucio Tan-led conglomerate LT Group Inc. saw a 61-percent year-on-year drop in first-quarter net profit to P1.61 billion due to slower earnings from the banking, tobacco and real estate units alongside the loss incurred by its hard liquor business.

Posted: May 16th, 2014 in Latest Business Stories | Read More »

Tobacco war spreads into BIR, House

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AFP FILE PHOTO

The Bureau of Internal Revenue (BIR) has placed the factory and warehouses of the Mighty Corp. cigarette company under 24/7 surveillance in response to allegations that the manufacturer is a smuggler and a tax evader.

Posted: March 15th, 2014 in Latest Business Stories | Read More »

Tobacco output jumped 11.8% in 2013

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The domestic output of tobacco fired up by 11.8 percent to 53,750 metric tons in 2013 as prices rose and financing for farmers increased.

Posted: February 24th, 2014 in Headlines | Read More »

Traders urge tight watch over maker of cheap cigarettes

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mighty-cigarettes

The chair of the 800-member Federation of Philippine Industries (FPI) on Monday called for a “24/7 close monitoring” of the trading practices of low-cost cigarette manufacturer Mighty Corp. by the Bureau of Customs (BOC) and its mother agency, the Department of Finance (DOF).

Posted: January 28th, 2014 in Latest Business Stories | Read More »

BOC padlocks warehouse of low-cost cigarette maker

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mighty-cigarettes

The Bureau of Customs has suspended the license of low-cost cigarette manufacturer Mighty Corp. to operate a customs bonded warehouse, which is expected to seriously disrupt its business operations, mainly the importation of tobacco leaves and other cigarette-manufacturing materials.

Posted: January 24th, 2014 in Editor's Pick,Latest Business Stories | Read More »

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