The 89-year-old billionaire thanked the management and employees of LT Group for the smooth transition and better financial performance at the family holding company.
Tan’s message to stockholders was read by Lucio Tan III, LT Group’s president and chief operating officer, during its annual shareholders meeting on Friday.
LT Group, whose businesses span banking, cigarettes, liquor production and property development, ended the past year with a net income of P25.42 billion, marginally better than P25.14 billion in 2022.
Outside of LT Group, the Tan family also owns Philippine Airlines, which reported profits of $81 million during the first quarter of 2024.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
