Listed GT Capital Holdings Inc. saw its consolidated net income decline by 61.8 percent in the first half to P2.74 billion from P7.17 billion year-on-year. GT Capital highlighted that its net income was supported by higher contributions from AXA Philippines Inc. and Sumisho Motor Finance Corp. during the first half. Despite weaker results, GT Capital said TMP’s overall share of the local vehicle market for the first half was at 38.5 percent. GT Capital’s property subsidiary Federal Land, meanwhile, posted a 57.7 percent lower net income to P171 million from P404 million. Shares of GT Capital climbed P23 or 5.74 percent to close at P424 apiece on Monday.

Source: Manila Times August 17, 2020 16:18 UTC