LTG EARNS P10 BILLION IN FIRST HALF

LT Group, Inc.’s attributable net income for the first half of 2020 amounted to Php10.03 billion, Php790 million or 9% higher than the Php9.24 billion reported for the first half of 2019.

The tobacco business accounted for Php8.18 billion or 82% of total attributable income.  Philippine National Bank (PNB) contributed Php795 million or 8%.  Tanduay Distillers, Inc. (TDI) followed with Php541 million or 5%.  Eton Properties Philippines, Inc. (Eton) added Php402 million or 4% while Asia Brewery, Inc. (ABI) accounted for Php40 million or less than 1%.  The 30.9% stake in Victorias Milling Company, Inc. (VMC) accounted for Php148 million or 1%.  

In June, LTG paid cash dividends of Php0.43 per share or a total of Php4.65 billion or a 20% payout rate on the 2019 attributable net income of Php23.12 billion.

LTG’s balance sheet remains strong.  Debt-to-Equity Ratio was at 3.81:1 with the Bank, and at 0.18:1 without the Bank.

Tobacco

The tobacco business had a net income of Php8.22 billion for the first six months of 2020, Php2.34 billion.