LT Group net income down 9% to P21B

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LT GROUP Inc. (LTG) has reported an unaudited attributable net income for 2020 amounting to P21.02 billion, P2.10 billion or 9.1 percent less than the P23.12 billion reported for 2019.

Publicly listed Philippine National Bank contributed P1.55 billion or seven percent of total attributable income.

The tobacco business accounted for P16.83 billion or 80 percent.

Tanduay Distillers Inc. contributed P1.10 billion or five percent. Eton Properties Philippines Inc. accounted for P799 million or four percent, while Asia Brewery Inc. contributed P583 million or three percent.

The 30.9 percent stake in Victorias Milling Company Inc. accounted for P264 million or one percent. (PR)