LT Group’s net income hit record P22.57 billion in 9 months

LT Group Inc. (LTG) on Thursday reported a record attributable net income of P22.57 billion in the first nine months of 2025, reflecting a 14-percent increase year-on-year. This marks the strongest nine-month and third-quarter performance since the company’s follow-on public offering, it said in a statement.

Philippine National Bank (PNB) was the largest contributor to the record earnings with P10.40 billion, or 46 percent of the total.

Fortune Tobacco Corp. (FTC), representing the tobacco business, added P8.12 billion, or 36 percent. Tanduay Distillers Inc. (TDI) and Asia Brewery Inc. (ABI) contributed P2.39 billion and P731 million respectively, accounting for 11 percent and 4 percent each.

Eton Properties Philippines Inc. (Eton) and Victorias Milling Company Inc. accounted for P481 million, or 2 percent, and P276 million, or 1 percent, respectively.

PNB’s net income grew 23 percent to P18.51 billion in the first nine months of 2025 from P15.06 billion in the same period last year.

The bank’s gross interest income rose 4 percent to P52.37 billion, led by higher loan volume interbank receivables and yields on investment securities.

Net interest income improved 8 percent to P39.30 billion as the net interest margin rose to 4.7 percent from 4.6 percent. Operating expenses decreased 5 percent to P24.12 billion, mainly due to lower provisions for impairment and credit losses.

FTC’s net income saw a 3-percent increase to P8.16 billion for the nine-month period from P7.94 billion last year.

This was due to a 3-percent rise in equity earnings from the Investment in PMFTC, which contributed P6.91 billion. PMFTC outperformed the market, increasing its sales volume 4 percent to 16.4 billion sticks and growing its market share to 47.4 percent.

TDI posted its best nine-month and third quarter results with a net income of P2.40 billion, a 59-percent jump from P1.51 billion in the prior period. The improvement was driven by higher liquor selling prices which offset lower sales volume of liquor and bioethanol. TDI’s market share grew to 38.5 percent across the country.

ABI’s net income increased slightly to P737 million from P715 million last year. Despite a 3-percent drop in beverage segment revenues due to lower sales volume for Cobra Energy Drinks, the company’s gross profit margin improved to 25 percent from 23 percent. Cobra energy drink held 45 percent of the market.

Eton reported a net income of P483 million, lower than the P499 million recorded last year. The decline was attributed to lower margins from the leasing business resulting from lower rental rates and higher operating costs. Leasing revenues declined 11 percent to P1.41 billion, but real estate sales grew 55 percent to P483 million.

LTG declared a special dividend of P0.30 per share in August 2025, in addition to the total P0.60 per share paid earlier in March and June. In total, LTG paid out P9.74 billion in dividends, which equals a 33.6 percent payout rate as of end-September 2025.