LT GROUP BOOKS P16.1 BILLION INCOME

Listed LT Group, Inc.’s (LTG) attributable net income for the first nine months of 2020 amounted to Php16.10 billion, Php1.38 billion or 9% more than the Php14.72 billion reported for the same period in 2019.

Philippine National Bank (PNB) contributed Php2.24 billion or 14% of total attributable income. 

The tobacco business accounted for Php12.12 billion or 75%. Tanduay Distillers, Inc. (TDI) added Php1.09 billion or 7%. Eton Properties Philippines, Inc. (Eton) accounted for Php630 million. Asia Brewery, Inc. (ABI) contributed Php4 million or less than 1%.

The 30.9% stake in Victorias Milling Company, Inc. (VMC) accounted for Php148 million, also less than 1%. In September, LTG paid a special cash dividend of Php0.23 per share or a total of Php2.49 billion. Including the dividends paid in June of Php0.43 per share or a total of Php4.65 billion, the Company has paid out Php0.66 per share or a total of Php7.14 billion, or 30.9% of 2019’s attributable net income of Php23.12 billion.

LTG’s balance sheet remains strong. Debt-to-Equity Ratio was at 3.58:1 with the Bank, and at 0.17:1 without the Bank.

Philippine National Bank (PNB) PNB’s net income under the pooling method was Php4.00 billion for the first nine months of 2020, Php2.52 billion or 39% lower than the same period in 2019.