LT Group, Inc., the listed holding company of business tycoon Lucio Tan, recorded its best first-quarter performance since 2013, as net income increased 13 percent to P7.24 billion from P6.39 billion recorded in the same period last year.
LT Group said the strong first quarter growth was mainly driven by strong results from the Philippine National Bank (PNB) and Fortune Tobacco Corp. (FTC).
PNB contributed P3.42 billion, accounting for 47 percent of the group’s total net income. PNB net income rose 15 percent year-on-year to P6.09 billion, boosted by higher interest income and a surge in service fees and trading gains. Its core income reached P12.71 billion, up 9 percent from last year.
FTC delivered P2.80 billion or 39 percent of the group’s total net income. Its net income grew 6 percent, mainly due to stronger earnings from PMFT.
Despite flat industry volume at 11.9 billion sticks, PMFTC’s volume increased slightly to 5.6 billion sticks from 5.5 billion in the same period last year.
Tanduay Distillers posted a net income of P525 million, a 107 percent jump from P255 million in the same period a year ago fueled by higher liquor sales and improved profit margins.
Net revenues reached P7.19 billion, up 22 percent year-on-year primarily due to increased sales volume and higher selling prices in the liquor segment.
Asia Brewery, Inc. saw a modest income increase as net income stood P178 million versus a year ago level of P155 million. This was largely due to better margins offset lower beverage revenues.
Property unit Eton Properties earned P143 million, up from P116 million, as real estate sales and other income rose slightly despite flat leasing revenue.
Victorias Milling Company contributed P154 million or 2 percent of LTG’s income.
In March 2025, LTG declared total dividends of P3.25 billion.
