Lucio Tan's LT Group allots P10-B capex | ABS-CBN
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Lucio Tan's LT Group allots P10-B capex
Lucio Tan's LT Group allots P10-B capex
ABS-CBN News
Published Jun 21, 2016 05:28 PM PHT
MANILA - Lucio Tan's LT Group Inc. on Tuesday said it is planning to spend P10 billion for capital expenditures (capex) this year.
MANILA - Lucio Tan's LT Group Inc. on Tuesday said it is planning to spend P10 billion for capital expenditures (capex) this year.
The company told the stock exchange that the amount will fund expansion programs in the beverage sector, building construction and land acquisition for the property sector, and technology upgrades for its banking unit.
The company told the stock exchange that the amount will fund expansion programs in the beverage sector, building construction and land acquisition for the property sector, and technology upgrades for its banking unit.
“Aside from strengthening our current brands and products, we’re launching new ones, putting up new plants, expanding in new areas, and forging new partnerships,” said LT Group President Michael Tan.
“Aside from strengthening our current brands and products, we’re launching new ones, putting up new plants, expanding in new areas, and forging new partnerships,” said LT Group President Michael Tan.
The company said it has a positive outlook for 2016 as it eyes new growth drivers to surpass last year's P6.6 billion net income.
The company said it has a positive outlook for 2016 as it eyes new growth drivers to surpass last year's P6.6 billion net income.
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Tan said the firm is also optimistic with the entry of the incoming Duterte administration.
Tan said the firm is also optimistic with the entry of the incoming Duterte administration.
“We’re ready to work closely with incoming President Duterte’s handpicked finance team led by incoming secretary Carlos Dominguez to fight illicit trade and increase tax collection especially in the tobacco and alcohol sectors,” he said.
“We’re ready to work closely with incoming President Duterte’s handpicked finance team led by incoming secretary Carlos Dominguez to fight illicit trade and increase tax collection especially in the tobacco and alcohol sectors,” he said.
LT Group shares were up 0.39 percent to P15.62 on Tuesday.
LT Group shares were up 0.39 percent to P15.62 on Tuesday.
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