JG Summit H1 profit rises

Gokongwei-led JG Summit Holdings Inc. (JGS) reported that its net income inched up in the first half of 2025 due to the strong performances of its subsidiaries coupled with tapering losses in its petrochemical business, which was closed this year.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm said its net income improved to P15 billion in the first semester of 2025 from P14.8 billion in the same period last year.

This is due to its strong core performance, engine gains, plus non-core foreign exchange (forex) and mark-to-market movements this year, which offset the absence of last year’s bank merger gains.

Net income jumped 175 percent to P10.7 billion in the second quarter of 2025, largely in line with core profits.

For the first half this year, the absence of the P7.9-billion gain from the merger of Bank of the Philippine Islands (BPI) and Robinsons Savings Bank booked in the first quarter of 2024 explains the 19-percent year-on-year core profit decline to P14.8 billion from P18.1 billion.