JG Summit swings to P10.4-B H1 profit

By Brix Lelis

Aug 12, 2023 12:27 am

JG Summit Holdings Inc. posted a net profit of P10.4 billion in the first half (H1), rebounding from a loss of P2.7 billion a year ago, thanks to margin expansion across its listed subsidiaries, strong top-line growth and a more favorable foreign exchange environment.

In a statement on Friday, JG Summit said core net income after tax reached P9.5 billion in the first half, almost seven times higher than the prior year's P1.4 billion.

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