GT Capital Holdings Inc., the listed company that holds the Group’s diverse portfolio, reported a consolidated net income of P21.7 billion for the first nine months, up 8 percent year-on-year, excluding non-recurring gains from lot sales and incentives under the Comprehensive Automotive Resurgence Strategy program of 2023.
The company got a strong boost from the record-setting profits of key subsidiaries, particularly the Metropolitan Bank & Trust Co. and Toyota Motor Philippines, which posted net incomes of P35.7 billion and P12.2 billion, respectively. Metro Pacific Investments Corp., an affiliate of GT Capital, also achieved a record-high profit of P20.8 billion for the period.
GT Capital president Carmelo Maria Luza Bautista attributed the strong performance to a favorable macroeconomic environment, noting that stable economic growth, slower inflation, and easing monetary policies during the period drove the company’s core businesses to outperform last year’s already strong results.
“We are hopeful that this momentum will be sustained through the rest of the year, supported by seasonal holiday spending and an overall positive market outlook,” he said.
GT Capital’s diversified business portfolio includes interests in banking, automotive, infrastructure, and utilities, continues to drive its strong performance. With its continued focus on growing and optimizing its investments, GT Capital remains well-positioned to navigate market fluctuations and deliver long-term value to shareholders.
