GT Capital says consolidated net income surged 143 percent in first half

ABS-CBN News

Posted at Aug 17 2021 11:31 AM | Updated as of Aug 17 2021 11:48 AM

MANILA— GT Capital Holdings Inc on Tuesday said its consolidated net income jumped 143 percent on the first half of 2021 driven by its banking, motors and real estate businesses.

Consolidated net income grew to P6.7 billion for the January to June period from P2.7 billion in the comparable year, GT Capital told the stock exchange. 

Core net income rose 83 percent to P5.8 billion for the period from P3.2 billion in the same period in 2020, it said.

"Amidst challenging conditions, the Group’s first half performance demonstrates our inherent capacity to bounce back from the historic low levels of the past year, and in certain sectors, even optimize competitive strengths by gaining market share," GT Capital president Carmelo Mara Luza Bautista said.

Metropolitan Bank & Trust Company's net income reached P11.7 billion while Toyota Motor Philippines' net income was at P3.5 billion for the period, the company said. 

Federal Land Inc also posted "stronger" real estate sales while a higher net income contribution from associate Metro Pacific Investments Corp also contributed to the performance in the first half of 2021, it said.

The conglomerate has interests in banking, automotive, import, dealership, financing, real estate, insurance and infrastructure.

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