Banking, tobacco push LT Group to record H1 profit
MANILA, Philippnes — LT Group Inc. (LTG) posted a strong 14 percent rise in attributable net income in the first half of 2026, driven by its banking, tobacco, and liquor sectors.
The listed conglomerate reported on Tuesday its first-half attributable net income of P17.03 billion, up from P14.97 billion in the same period last year.
READ: LT Group posts higher Q1 profit on banking, tobacco gains
This marked its best first-half performance since its follow-on offering.
“As of June 30, the company’s debt-to-equity ratio was 2.97:1 with the bank, and 0.09:1 without the bank. The parent company held a cash balance of P2.20 billion,” LTG said.
Philippine National Bank (PNB) remained LTG’s biggest earnings contributor, accounting for P8.21 billion, or 48 percent of the total.
Fortune Tobacco Corp. (FTC) contributed P6.13 billion, or 36 percent, while Tanduay Distillers Inc. added P1.57 billion, equivalent to 9 percent.
Asia Brewery Inc., Eton Properties Philippines Inc., Victorias Milling Co. and other businesses accounted for the remainder.
Meanwhile, PNB posted a 17-percent increase in net income to P14.61 billion from P12.52 billion a year earlier.
Net interest income rose 7 percent to P27.61 billion as gross interest income increased and interest expenses fell on lower funding costs. Net service fees and commission income also grew 9 percent to P3.06 billion.
Tanduay’s net income climbed 16 percent to P1.58 billion as revenues grew 9 percent to P16.68 billion on higher prices and liquor sales volume.
Its nationwide distilled spirits market share improved to 40.8 percent from 39.2 percent a year ago. Tanduay maintained a 74.4-percent share in the Visayas and 82.4 percent in Mindanao.
READ: Lucio Tan grandson named president of LT Group
In contrast, Asia Brewery saw its net income fall to P378 million from P491 million as higher production costs weighed on margins.
Still, revenues rose 2 percent to P9.02 billion, supported by better sales volumes across its beverage portfolio.
Eton Properties likewise booked a lower net income of P291 million from P352 million a year earlier. /pai
