The Ty family's holding company said earnings would have increased by 8 percent without one-time gains like lot sales and incentives under the CARS program in 2023.
Management’s view
GT Capital president Carmelo Maria Luza Bautista said on Thursday the corporate giant still recorded strong results during the nine-month period.
“In particular, the stable gross domestic product (GDP), slower inflation, and easing monetary policies during the period drove our core businesses above last year’s record levels,” Bautista said.
“We are hopeful that this momentum will be sustained through the rest of the year, supported by the seasonal holiday spending and overall positive market outlook,” he added.
GT Capital’s strong performance came from record profits by its main businesses. Metrobank earned P35.7 billion, while Toyota Motor Philippines (TMP) made P12.2 billion. Additionally, Metro Pacific Investments Corp., a GT Capital associate, reported a record P20.8-billion profit for the same period.
