MANILA, Philippines — LT Group Inc. (LTG), the listed conglomerate of taipan Lucio Tan, reported a 17 percent increase in net income in the nine months to September to P14.72 billion. LTG said the tobacco business accounted for P9.57 billion or 65 percent of the total income. Net income grew 40 percent to P9.61 billion. Tanduay Distillers Inc. posted a nine month net income of P518 million, down 28 percent. Asia Brewery Inc. (ABI) provided P254 million or two percent to LTG’s total net income.

Source: Philippine Star November 13, 2019 21:01 UTC