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Manila Bulletin devider Business devider The Stock Market devider LT Group hits record first-half profit of ₱17 billion on banking, tobacco gains

LT Group hits record first-half profit of ₱17 billion on banking, tobacco gains

Published Aug 11, 2026 04:38 pm
Lucio Tan III
Lucio Tan III
LT Group Inc. (LTG), the conglomerate led by billionaire Lucio Tan, posted a 14 percent gain in first-half profit to ₱17.03 billion, propelled by expanded earnings at its banking and tobacco units.
In a filing with the Philippine Stock Exchange, LTG said net income attributable to the parent company rose to its highest first-half profit since its follow-on equity offering in April 2013 from ₱14.97 billion in the same period a year earlier.
Philippine National Bank generated the largest share of overall net income, contributing ₱8.21 billion or 48 percent of the total. Tobacco unit Fortune Tobacco Corp. added ₱6.13 billion, representing 36 percent.
Liquor maker Tanduay Distillers Inc. supplied ₱1.57 billion, while beverage producer Asia Brewery Inc. added ₱377 million. Property developer Eton Properties Philippines Inc. contributed ₱290 million, sugar refiner Victorias Milling Co. generated ₱295 million, and other assets accounted for ₱156 million.
PNB’s standalone net income climbed 17 percent to ₱14.61 billion from ₱12.52 billion a year earlier. Fortune Tobacco’s standalone profit increased 13 percent to ₱6.16 billion from ₱5.46 billion, lifted by higher earnings from its 49.6 percent associate, Philip Morris Fortune Tobacco Corp. PMFTC benefited from price increases implemented in March 2026.
Total Philippine tobacco industry volume grew two percent to 22.5 billion sticks during the six-month period. PMFTC’s underlying sales volume matched that pace, rising two percent to 11 billion sticks from 10.9 billion sticks a year earlier.
Industry volume gains were supported by sustained government operations against illegal cigarette trading, including heightened port inspections and border crackdowns on imported manufacturing equipment. Authorities project these enforcement measures will continue to curtail illicit trade through the end of the year.
Tanduay Distillers recorded a 16 percent increase in net income to ₱1.58 billion from ₱1.36 billion. Net revenues at the liquor unit rose 9 percent to ₱16.68 billion from ₱15.25 billion, aided by price adjustments and higher sales volumes.
Tanduay expanded its nationwide market share in distilled spirits to 40.8 percent from 39.2 percent, while maintaining dominant regional positions of 74.4 percent in Visayas and 82.4 percent in Mindanao.
Asia Brewery’s net profit fell to ₱378 million from ₱491 million a year earlier, despite a 2 percent rise in beverage revenues to ₱9.02 billion. Revenue growth at the unit was anchored by volume expansion across energy drinks and bottled water lines.
Eton Properties reported net income of ₱291 million, down from ₱352 million in the prior-year period, which had been elevated by non-recurring gains. Leasing income, which forms 80 percent of Eton’s total top line, increased 4 percent to ₱949 million from ₱916 million.
Real estate sales grew 12 percent to ₱238 million from ₱212 million on broader unit bookings across active residential and commercial projects. (James A. Loyola)

Related Tags

LT Group Inc. Philip Morris Fortune Tobacco Co. Tanduay Distillers Inc. Eton Properties Philippines Inc. Asia Brewery Inc.
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