Taipan Lucio Tan’s holding company LT Group, Inc. (LTG) reported its best first-quarter performance since its follow-on public offering in 2013 on the back on higher earnings contributions from its banking, tobacco, beverages and real estate units.

In a disclosure to the Philippine Stock Exchange, the firm said its attributable net income improved by 13 percent to of ₱7.24 billion in the first quarter of 2025 from ₱6.42 billion in the same period last year.

Philippine National Bank (PNB) contributed ₱3.42 billion or 47 percent, Fortune Tobacco Corporation (FTC) contributed ₱2.80 billion or 39 percent of total.

Tanduay Distillers Inc. and Asia Brewery added ₱525 million and ₱178 million, respectively, or seven percent and three percent each. Eton Properties Philippines Inc. and Victorias Milling Company accounted for ₱143 million or two percent and ₱154 million or two percent, respectively.

PNB’s net profit under the pooling method was ₱6.09 billion in the first quarter of 2025, 15 percent higher than the ₱5.31 billion reported in the same period of 2024.

FTC reported a six percent growth in net income to ₱2.81 billion in the first quarter of the year from the ₱2.66 billion reported in the same period of 2024 primarily due to higher equity in net earnings from PMFTC which amounted to ₱2.76 billion, a seven percenbt increase compared to last year’s ₱2.59 billion.

Despite flat industry volume at 11.9 billion sticks, PMFTC's volume increased slightly to 5.6 billion sticks from 5.5 billion. This, combined with price increases implemented in November 2024, led to higher earnings.

Tanduay posted a net income of ₱528 million for the first quarter of 2025, a significant increase of 107 percent from the ₱255 million recorded in the same period last year.

This was driven by higher net revenues at ₱7.19 billion in the first three months of the year, 22 percent higher than the ₱5.90 billion reported in the same period of 2024.

This was primarily attributed to increased sales volume and higher selling prices in the liquor segment.

Asia Brewery’s net income was higher at ₱178 million for the quarter ended March 31, 2025 from ₱155 million in the same period last year.

Revenues of the beverage segment were at ₱4.31 billion in the current period, two percent lower than the first quarter of 2024, as sales volume decreased for Cobra Energy Drinks.

However, there was an improvement in the gross profit margin to 24 percent from 21 percent due primarily to better sales mix, lower discounts provided to distributors as well as decrease in fixed manufacturing costs.

Eton reported a net income of ₱144 million for the first three months of 2025, higher than the ₱116 million for the same period last year.

Leasing revenues remained essentially flat y-o-y, reaching ₱473 million (82 percent of total revenue) in the current period compared to ₱476 million in the same period of 2024.