GT Capital posts P7.1-billion net income in first half

ABS-CBN News

Posted at Aug 15 2018 01:37 PM

MANILA - GT Capital Holdings Inc on Wednesday reported a consolidated net income of P7.1 billion in the first half of 2018 as well as a P7.1 billion core net income for the same period. 

Consolidated revenues reached P101.2 billion from January to June, GT Capital said in a disclosure to the stock exchange. 

Metrobank, AXA Philippines, Metro Pacific and Toyota Financial Services Philippines contributed to its financial performance, it said. 

The results, however, "reflects the slowdown in the auto industry's unit sales attributed to front-loading orders late last year in anticipation of the Tax Reform for Acceleration and Inclusion (TRAIN) law," GT Capital President Carmelo Maria Luza Bautista said. 

Metrobank's net income grew 31 percent to P5.2 billion from P3.9 billion in the same period last year while Metro Pacific's consolidated core net income grew 10 percent to P8.6 billion for the first six months of 2018 compared to P7.8 billion during the same period last year. 

Toyota booked P4.6 billion in consolidated net income for the first half of 2018, GT Capital said. 

GT Capital said its property developers Federal Land Inc and Property Company of Friends Inc reported a combined net income of P1.1 billion in the first half of 2018.