LT Group says net income down 9 percent in 2020 | ABS-CBN
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LT Group says net income down 9 percent in 2020
LT Group says net income down 9 percent in 2020
ABS-CBN News
Published Mar 19, 2021 05:24 PM PHT
MANILA - Tycoon Lucio Tan's LT Group Inc said Friday its unaudited attributable net income for 2020 reached P21.02 billion, down 9 percent compared to 2019.
MANILA - Tycoon Lucio Tan's LT Group Inc said Friday its unaudited attributable net income for 2020 reached P21.02 billion, down 9 percent compared to 2019.
The total is P2.10 billion lower than the P23.12 billion reported in the previous year, LT Group said in a disclosure to the stock exchange.
The total is P2.10 billion lower than the P23.12 billion reported in the previous year, LT Group said in a disclosure to the stock exchange.
Philippine National Bank contributed P1.55 billion or 7 percent of total attributable income, the statement said.
Philippine National Bank contributed P1.55 billion or 7 percent of total attributable income, the statement said.
The tobacco business accounted for P16.83 billion or 80 percent, Tanduay Distillers Inc contributed P1.10 billion or 5 percent, Eton Properties Philippines Inc with P799 million or 4 percent, and Asia Brewery Inc with P583 million or 3 percent, it said.
The tobacco business accounted for P16.83 billion or 80 percent, Tanduay Distillers Inc contributed P1.10 billion or 5 percent, Eton Properties Philippines Inc with P799 million or 4 percent, and Asia Brewery Inc with P583 million or 3 percent, it said.
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Its stake in Victorias Milling Company Inc accounted for 264 million or 1 percent, the LT Group said.
Its stake in Victorias Milling Company Inc accounted for 264 million or 1 percent, the LT Group said.
The LT Group said its balance sheet "remains strong."
The LT Group said its balance sheet "remains strong."
In June last year, the group said it was "guarded" on growth as the COVID-19 pandemic dampened demand for some of its products.
In June last year, the group said it was "guarded" on growth as the COVID-19 pandemic dampened demand for some of its products.
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