Lower contributions from PNB, tobacco business weigh on LTG’s net income

24 Mar


Profit at the listed holding firm of Lucio Tan dropped by more than half last year.

LT Group, Inc. (LTG) said it earned PHP 6.154 billion in 2014, down from the PHP 11.475 billion the previous year. Pulling down the conglomerate’s earnings was Philippine National Bank (PNB), which accounted for 47% of LTG’s revenue.

Get FREE stock analysis, special reports and brokers’ recommendations!

The banking business’ revenue dropped by a sixth to PHP 24.6 billion last year from PHP 28.9 billion in 2013, as it suffered a steep fall in trading gains.

Leave a comment

Posted by on March 24, 2015 in Corporate News, LTG, Stock Market


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: