Philippine conglomerate JG Summit Holdings reports a 30-fold increase in 2023 net income, driven by strong performance in airline and real estate businesses.
JG Summit Holdings, a Philippine conglomerate, reports a 30-fold increase in 2023 net income to P20.2bn, up from P700m in 2022, driven by strong performance in the airline and real estate businesses. Cebu Air's net income surged from a P14bn loss in 2022 to P7.9bn in 2023, while Robinsons Land Corp increased its net income by 24% to P12.1bn. The company aims to recover lost volumes and market shares in its food business and increase capacity for its airline.
March 26, 2024
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