2 weeks JG Summit net profit jumps to P17.6 B in H1 MB |Biz
By James A. Loyola JG Summit Holdings, Inc. (JGS) reported a 79 percent jump in consolidated net income to P17.6 billion in the first half of 2019, driven by a 10 percent consolidated revenue growth plus margin improvements across its strategic business units. (Photo courtesy of www.jgsummit.com.ph/) “This was further boosted by mark-to-market and forex gains on the back of a favorable macroeconomic environment, as well as United Industrial Corporation’s P3.0-billion gain arising from its acquisition of additional stakes in Marina Centre Holdings and Marina Mandarin Hotel,” said JGS in a disclosure. The firm added that, without these non-recurring items, ... more