GT Capital records 143% growth in net income in first half

GT Capital Holdings Inc. (GT Capital) has disclosed Tuesday, Aug, 17, 2021 a 143 percent growth in its consolidated net income to P6.7 billion for the first half of 2021 from P2.7 billion in the previous year.

The conglomerate’s core net income increased 83 percent to P5.8 billion in the first six months of 2021 from P3.2 billion in 2020.

This was driven by Metropolitan Bank & Trust Company, whose net income amounted to P11.7 billion, as well as Toyota Motor Philippines, which realized a net income of P3.5 billion.

Toyota attained retail vehicle sales of 63,758 units in January to June 2021 from 35,648 units in the same period last year, for a 79 percent increase.

Stronger real estate sales from Federal Land Inc. and a higher net income contribution from associate Metro Pacific Investments Corp. also contributed to GT Capital’s positive performance in the first half of 2021. (PR)

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