May 14, 2013

JG Summit declines slightly to P4.86 B in Q1


JG Summit Holdings Inc.’s first quarter net income from equity holders of the parent slightly dropped to P4.86 B from P4.91 B in first quarter of 2012. Consolidated revenues rose 8.4% to P38.43 B from P35.46B.

Snacks and beverage giant Universal Robina Corp. (URC) grew its consolidated sales 11.8% to P20.1 B in the first quarter, driven by the branded consumer food group. URC’s net income attributable to equity holders of the parent increased to P2.28 B for the three months of fiscal 2013 from P2.22 B in the same period last year.

Robinsons Land Corp.’s net income picked up 3.8% to P1.19 B in the three months that ended in December 2012. Real estate revenues were up 9% to P3.33 B while hotel revenues went up 16.7% to P397.8 M. Airline firm Cebu Air Inc., which owns and operates budget carrier Cebu Pacific, posted a 20% growth in its earnings to P1.16 B.

Revenues of JG Summit Petrochemicals Corp. sank 63% to P510 M in the first quarter
from P1.38 B a year ago.- WealthSec