Thursday, August 18, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Corporate

GT Capital’s 2020 income decreased by 68% to P6.5b

Jenniffer B. AustriabyJenniffer B. Austria
March 29, 2021, 6:55 pm
in Corporate
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

GT Capital Holdings Inc., the listed holding company of the Ty Group, posted a net income of P6.5 billion in 2020, down 68 percent from P20.3 billion in 2019, on lower contribution from the banking, automotive and real estate businesses.

GTCAP said in a disclosure to the stock exchange Monday core net income dropped 53 percent in 2020 to P7.4 billion from P15.8 billion in the previous year.

Consolidated revenues declined 40 percent to P134.4 billion in 2020 from P222.9 billion a year ago.

“Our year-end 2020 results show the full impact of the pandemic and the consequent lockdown that hampered the group to effectively only seven months of operations. However, the strong performance posted during the last quarter under general community quarantine demonstrates the group’s resiliency to rebound on the path to normalcy,” GTCAP president Carmelo Maria Luza Bautista said.

“We are optimistic that despite the recent surge in COVID-19 cases, while alarming, will be mitigated once the pre-ordered vaccines are delivered by June and September. We have taken the necessary steps to procure the vaccines to protect all our employees and contractual staff. We anticipate that 2021 will be less disruptive than the previous year,” she added.

ADVERTISEMENT

The conglomerate’s banking unit, Metropolitan Bank & Trust Company (Metrobank), registered a net income of P13.8 billion in 2020, down more than 50 percent from a year ago, as the bank booked P40.8 billion as provisions for bad loans.

Unit Toyota Motor Philippines reported a net income of P3.4 billion, down 63.4 percent from P9.4 billion, as sales fell 38 percent to 100,019 units from 162,011 units in 2019.

Revenues, however, have steadily recovered as quarter sales came to within 85 percent of the same period in 2019, peaking to 13,716 units in December.

GTCAP’s wholly-owned property subsidiary Federal Land Inc. booked total revenues of P9.3 billion in 2020, down 29.5 percent from P13.2 billion in the previous year.

Reservation sales for the year reached dropped 41.3 percent to P14.2 billion versus P24.2 billion in 2019.

Lease revenues, meanwhile, increased 17 percent to P1.8 billion, driven by new tenants in the developer’s commercial properties.

Tags: GT Capital Holdings Inc.net incomeTy Group
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

SSI Group’s profit soared by 383% to P491m in 6 months

byJenniffer B. Austria
August 17, 2022, 8:15 pm
0
165
SSG Group, Metro Retail incur losses

SSI Group Inc., the country’s largest specialty retailer controlled by the Tantoco family, said Wednesday net income soared 383 percent...

Read more

Figaro optimistic on 2022 operations

byManila Standard
August 17, 2022, 7:50 pm
0
155
Figaro Coffee pegs IPO price at P0.75/share

Figaro Coffee Systems Inc., the sole subsidiary and operating company owned by listed Figaro Coffee Group, is optimistic about its...

Read more

Vista Land’s income climbed 11% in first half

byJenniffer B. Austria
August 16, 2022, 7:10 pm
0
175
Vista Land’s profit hit P6b in 9 months

Vista Land & Lifescapes Inc., the property unit of real estate tycoon Manuel Villar Jr., said Tuesday net income grew...

Read more

GT Capital earned P8.3b in six months

byJenniffer B. Austria
August 16, 2022, 7:05 pm
0
171

Conglomerate GT Capital Holdings Inc. said Tuesday net income increased 24 percent in the first six months to P8.3 billion...

Read more

Fernando Zobel takes sick leave as Ayala CEO

byJenniffer B. Austria
August 15, 2022, 6:45 pm
0
596
Ayala CEO takes medical leave

Ayala Corp. president and chief executive Fernando Zobel de Ayala took a temporary medical leave to focus on improving his...

Read more

Solar Philippines eyes private placements

byJenniffer B. Austria
August 15, 2022, 6:15 pm
0
239
Work on Southeast Asia’s biggest solar project starts

Solar Philippines Nueva Ecija Corporation (SPNEC) is in talks with investors on a possible equity sale through private placements. SPNEC...

Read more

Stories you may like

  • People …are talking about Liza Soberano

    Supermodel son is Philippine bet in Manhunt International

    12327 shares
    Share 4931 Tweet 3082
  • How love kept Zoey Taberna alive

    10100 shares
    Share 4040 Tweet 2525
  • Another oil price rollback likely as world economy further stalls

    1465 shares
    Share 586 Tweet 366
  • Judgments and their execution

    1298 shares
    Share 519 Tweet 325
  • SMART/MVP-PH Team joins ‘22 Asian Taekwondo Championship

    1109 shares
    Share 444 Tweet 277

Print Edition

View More

Recent Posts

  • Asian markets drop as Fed minutes cause fresh rate hike woe
  • Tokyo Olympics exec arrested over bribery allegations
  • Hundreds evacuated as ‘frightening’ floods hit N.Zealand
  • Cheney defeat marks Trump’s win over traditional conservatism
  • Anger as US court says teen not ‘mature’ enough for abortion
  • ‘Captain America’ Reed files $750m law suit over ‘malicious attacks’
  • TikTok girds for US election misinformation threat
  • Sneakers for Makati : AB4.0

Advertisement

Latest News

‘Captain America’ Reed files $750m law suit over ‘malicious attacks’

byAFP
August 18, 2022, 7:00 am
0
145
‘Captain America’ Reed files $750m law suit over ‘malicious attacks’

US golfer Patrick Reed, who departed the US PGA Tour for the Saudi-backed LIV Golf Series, has filed a $750...

Read more

TikTok girds for US election misinformation threat

byAFP
August 18, 2022, 6:00 am
0
134
TikTok girds for US election misinformation threat

TikTok on Wednesday rolled out its battle plan against the deluge of misinformation expected to accompany the upcoming US midterm...

Read more

Sneakers for Makati : AB4.0

byManila Standard
August 18, 2022, 1:40 am
0
1.1k
Sneakers for Makati : AB4.0

Read more

SRA revamp up, probe on

byVince Lopezand3 others
August 18, 2022, 1:30 am
0
186
Sy siblings, Villar, Razon top 2022 Forbes rich list

BBM sets move this weekend, Congress tables import mess inquiry A shakeup at the Sugar Regulatory Administration (SRA) is imminent,...

Read more

Government to lose billions in tax income from softdrinks

byJulito G. Rada
August 18, 2022, 1:20 am
0
278
Coca-Cola on track with energy efficiency goal in PH

Economic managers said Wednesday that the sugar supply shortage in the country could affect the economy’s recovery from the pandemic....

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App