LT Group, Inc. (LTG), the flagship investment holding company of billionaire Lucio Tan, delivered its strongest nine-month performance on record, posting an attributable net income of P22.57 billion—a 14 percent increase year-on-year and the company’s best January-September and third-quarter results since its follow-on offering—delivered by the broad-based growth across the conglomerate.
Philippine National Bank contributed P10.40 billion, accounting for 46 percent of total profit. The tobacco business under FTC followed with P8.12 billion, or 36 percent. Tanduay Distillers generated P2.39 billion (11 percent), while Asia Brewery added P731 million (4 percent). Property arm Eton Properties contributed P481 million (2 percent), and Victorias Milling Company delivered P276 million (1 percent).
The strong performance enabled LTG to declare a P0.30-per-share special dividend in August, on top of the P0.60 per share distributed in March and June. Total dividends reached P9.74 billion, representing a 33.6 percent payout ratio as of end-September.
LTG also reported a solid balance sheet. As of September 30, its debt-to-equity ratio stood at 2.88:1 including PNB and 0.09:1 excluding the bank, underscoring the holding company’s conservative leverage.
LTG ended the period with P3.04 billion in cash, providing ample liquidity to support expansion across its banking, tobacco, liquor, beverage, property, and sugar businesses.
