Saturday 19 January
Aug 15, 2018 @ 10:11

Slower auto sales pull down GT Capital?s profit


Taipan George Ty?s listed investment arm GT Capital Holdings Inc. reported a one percent drop in its first semester earnings to P7.14 billion as weaker automotive sales dragged down its bottomline.

Automotive operations comprising the sale of assembled and imported auto vehicles and spare parts declined by percent to P85 billion owing to a 12 percent drop in wholesale volume to 74,777 units.

Real estate sales went up five percent to P7.97 billion with Federal land contributing 51 percent of the sales, mostly from its middle-market development projects.

AXA Philippines reported a 34.5 percent jump in net income to P1.3 billion, driven by higher premium spillovers from last year.

Equity in net income of associates and jointly-controlled entities jumped 33 percent to P5.87 billion, largely due to higher earnings of Metropolitan Bank and Trust Corp., Metro Pacific Investments Corp., and AXA Philippines.

Please follow and like us:

Tags: , , , , , , , , , , ,

Related Stories
No unloading incidents were recorded for the past week in the Metro Rail Transit Line
Canadian firm Bombardier Transportation will supply the signaling system and spare parts that are necessary
German sporting goods maker Adidas on Wednesday lifted its profit expectations for 2018 after a
German high-end carmaker BMW on Wednesday posted a steep drop in quarterly profit as new


Trending News

Recommended on sister sites

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.