LTG posts record 9-month earnings

MANILA, Philippines — LT Group Inc. (LTG) of taipan Lucio Tan delivered record-high earnings in the first nine months, boosted by strong contributions from its banking, tobacco, as well as liquor and spirits segments.

LTG reported an attributable net income of P25.82 billion from January to September, 14 percent higher than last year’s P22.57 billion.

Philippine National Bank (PNB) was the biggest earnings contributor for the period at P11.95 billion, or 46 percent of the total, followed by Fortune Tobacco Corp., representing the tobacco business, which accounted for 36 percent at P9.35 billion.

On a standalone basis, PNB’s net income rose by 15 percent to P21.27 billion from the P18.51 billion recorded in the same period in 2025.

LTG attributed the bank’s growth primarily to stronger net interest income and higher service fees, partially offset by lower trading gains.

The tobacco segment likewise saw its net income climb by 15 percent to P9.39 billion from P8.16 billion, driven by higher equity in earnings from PMFTC, in which the group holds a 49.6 percent interest.

LTG said PMFTC’s profitability was lifted by price increases implemented in March 2026.

Tanduay Distillers Inc., meanwhile, contributed P2.75 billion, or 11 percent of group earnings, with its standalone net income rising by 15 percent to P2.76 billion.

The growth was fueled by stronger net revenues, which increased by seven percent year-on-year to P26.84 billion, supported by higher selling prices in the liquor business.

LTG said Tanduay retained market leadership at 74.2 percent in Visayas and 81.3 percent in Mindanao. Its nationwide share increased to 40.4 percent in the first nine months of 2026 from 39.7 percent in the same period last year, based on Nielsen retail offtake data.

Net income of LTG’s beverage segment through Asia Brewery Inc. declined to P619 million from P737 million last year, with revenues posting a slight increase to P13.51 billion.

Asia Brewery registered improved sales volume across the beverage portfolio, led by bottled water, Vitamilk and yogurt, but cost of sales jumped due to higher production costs for glass bottles and increased support to distributors.

Eton Properties Philippines, for its part, booked a net income of P545 million, up from P483 million in the same period last year, driven by stronger earnings from its leasing business.

Eton’s leasing portfolio reached 263,100 square meters as of end?September.