JG Summit Holdings, Inc. (JGS) said Thursday its net income in the first nine months of 2025 rose 5 percent to P18.8 billion, led by a strong 24 percent year-on-year (YoY) increase in recurring core profits.
The Gokongwei-led conglomerate posted consolidated core profit of P19.3 billion in the nine-month period, including a P4-billion equitized gain from Pratt & Whitney as compensation for ongoing Aircraft-on-Ground (AOG) issues.
This compares with P20.3 billion reported last year, which contained P7.9 billion in bank merger gains.
Excluding these one-off gains, recurring core profits saw a substantial increase to P15.4 billion.
“We continue to exhibit a strong upward trajectory in our recurring core profits, driven by the performance of our listed strategic business units, as well as the curbed losses from our mothballed petrochemical plant,” said JG Summit president and chief executive Lance Gokongwei.
“With 2025 serving as a rebasing year, we are currently in the process of refreshing our long-term strategy with clear 5-year value creation plans coming from our food, airline and real estate units,” he said.
Gokongwei said JG Summit is also “undergoing a more deliberate portfolio review and capital allocation process with tighter governance and investment guardrails set in place.”
JG Summit’s consolidated revenue ended flat at P277.5 billion in the first nine months of 2025. In the third quarter, the company reported total revenue of P83.5 billion, down 6 percent due to the shutdown of its petrochemical plant.
The growth in recurring core profit was supported by strong performances across its key business units.
Universal Robina Corp.’s revenue rose 5 percent to P124.6 billion in the first nine months. This was driven by higher volumes and market share gains in its domestic branded consumer food (BCF) segment, coupled with the improving scale of the URC International (URCI) business.
Sales of most BCF PH categories outperformed, and in URCI, revenue was buoyed by Munchy’s strengthened leadership position in Malaysia and sustained growth in Indonesia.
Robinson Land Corp.’s topline rose 13 percent to P35.5 billion, led by the double-digit expansion in its malls and hotels. Malls saw occupancy rates of 94 percent and hotels had 66 percent occupancy, on the back of robust leisure demand.
