EARNINGS. The LT Group's net income continues to grow, despite lower earnings from its liquor and beverages businesses. Photo from AFPposted a net income of P14.7 billion for the 1st 9 months of the year, P2.2 billion or 17% higher than the same period last year, on the back of the strong performance of its banking and tobacco businesses., raked in P6.5 billion, 15% or P1.1 billion lower than last year's P7.6 billion.
Meanwhile, Eton Properties’ net income soared by 100% to P629 million. Its total revenues were 29% higher on the back of stronger real estate sales and leasing revenues.reported a drop in earnings, with net income at P518 million or 28% lower than the P722 million a year ago. Revenues from liquor were 2% lower due to the 4% drop in volume. Earnings were partially offset by higher selling prices.
Asia Brewery's earnings also reported a drop, with net income clocking in at P254 million, 13% or P37 million lower than the P291 million reported a year ago. Revenues increased by 9% due to higher volumes of energy drinks, soy milk, and bottled water. However, operating expenses jumped by 9% as the company spent more on advertising.
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