JG Summit nets P29B | Inquirer Business

JG Summit nets P29B

By: - Business Features Editor / @philbizwatcher
/ 12:06 PM April 13, 2018

Gokongwei-led conglomerate JG Summit Holdings grew net profit last year by 169 percent to P29.37 billion in the absence of impairment losses from its PLDT Inc. investment that dragged down previous year’s earnings.


JG Summit’s consolidated core net income after taxes – excluding non-operating and nonrecurring items- amounted to P29.56 billion in 2017, relatively flat from the previous year’s level, as the rise in fuel prices gnawed on the earnings of the airline business. This, however, was offset by the double-digit income growth in the petrochemicals business and increase in equity earnings from associates particularly, United Industrial Corp. Ltd. of Singapore, Manila Electric Co. and Global Business Power Corp.

Consolidated cash flow as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) reached P70.67 billion in 2017 from P69.37 billion in the previous year.


Consolidated revenues grew by 13.7 percent to P273.45 billion in 2017, JG Summit disclosed to the Philippine Stock Exchange on Friday.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: JG Summit, JGS
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.