GT Capital 9-month income flat at P11Bhome/Business/Corporate News/GT Capital 9-month income flat at P11BConglomerate GT Capital Holdings, Inc. reported flat profit growth for the first nine months of the year as an automotive industry slowdown weighed on strong results for its other businesses. In a disclosure on Thursday, GT Capital reported that January-September net income was unchanged at P11 billion from a year earlier, while consolidated revenues dipped by 5 percent to P161.3 billion from P169.5 billion. Strong growth, however, was recorded in the financial services, property, and insurance segments. On the other hand, a contraction in auto sales led to Toyota Motor Philippines Corp. notching a 33-percent drop in net income to P6.6 billion. GT Capital shares added P5 to P720 apiece as the wider Philippine Stock Exchange index notched a 0.43-percent gain on Thursday.

Source: Manila Times November 15, 2018 16:30 UTC