GT Capital Holdings, Inc., the listed investments company of business magnate George Ty, reported a 32% rise in its first nine months of the year, garnering profits up to P8.4B from P6.3B in the same period last year.
In a statement filed with the local bourse, the company said its integrated revenues for January to September went up by 10% to P115.1B from P104.9B in 2014, in which its higher sales are largely generated by its real estate and automative units such as Federal Land, Inc. (Federal Land) and Toyota Motor Philippines Corporation (TMP).
Federal Land’s 2015 revenues for the nine-month period rose 15% to P8B from P7B a year ago while rental income and property expansion grew by 33% and 12% respectively.
Meanwhile, Toyota Motor Philippines Corp. posted a 56% climb to P7.7B in its nine-month net income from P4.9B. The car manufacturer also saw a 6% hike in revenues to P81.9B, retaining its share in the market at 35.8%. The company also sold 89,107 vehicles during the same period.
“GT Capital’s performance for the period validates our distinct business model of strong partnerships and synergies. Through such initiatives, we remain confident in GT Capital’s continued growth momentum,” GT Capital chairman Francisco C. Sebastian said.
The holdings firm also has subsidiaries in banking, power generation, and insurance including Metropolitan Bank & Trust Company (Metrobank), Global Business Power Corp., Philippine AXA Life Insurance Corp. (AXA Philippines) and Charter Ping An Insurance Corp.
Metrobank registered a P14.411B net income in the January to September period, which is 25% lower than P15.534B a year ago when profits were inflated by a non-recurring gain.
Global Business Power Corp.’s net fees, on the other hand, reached P13.7B for the nine-month period with a net profit of 15% increase to 1.9B.
AXA Philippines’ nine-month sales are up by 26% to P3.6B due to its higher gross premiums and gains, as well as a significant increase sustained by its parent company and fellow subsidiaries.