GT Cap bottom line down 2%

GT Capital Holdings Inc., the investment arm of the Ty family, reported a two-percent dip in consolidated net income to P28.8 billion in 2024, from the P29.3 billion it earned in 2023, due to non-recurring gains in the previous year.

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Excluding non-recurring gains from lot sales and incentives under the Comprehensive Automotive Resurgence Strategy (CARS) program, GT Capital’s 2024 core net income increased by 11 percent from 2023.

The conglomerate said its growth momentum was sustained by the record net income of Metrobank and Toyota Motor Philippines (TMP).

GT Capital’s performance was also supported by its associate Metro Pacific Investments Corp. (MPIC), which achieved a record-high net income of P28 billion in 2024.

“GT Capital’s core net income grew by 11 percent in 2024, building on the record levels achieved the previous year. This continuous improvement reflects the group’s strong fundamentals across diversified sectors,” said GT Capital President Carmelo Maria Luza Bautista.