JG Summit's Core Profit Soars 29% in 2024

MT Newswires Live

03/27

JG Summit Holdings' (PSE:JGS) core profit jumped 29% year over year to 24.9 billion Philippine pesos in 2024, according to a Thursday Philippine bourse filing.

The conglomerate's revenues rose 11%, and were further boosted by realized gains from the merger between Robinsons Bank and Bank of the Philippine Islands (PSE:BPI).

JG Summit's consolidated topline for the full year of 2024 amounted to 379.7 billion pesos, driven by robust demand for travel and leisure, and improved sales volumes for the food and beverage business, it added.

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