JG Summit Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 09:38 pm EDT
JG Summit Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was PHP 9,529.61 million compared to PHP 20,176.99 million a year ago. Revenue was PHP 81,137.57 million compared to PHP 81,882.96 million a year ago. Net income was PHP 5,378 million compared to PHP 43.88 million a year ago. Basic earnings per share was PHP 0.72 compared to PHP 0.01 a year ago. Diluted earnings per share was PHP 0.72 compared to PHP 0.01 a year ago.
For the six months, sales was PHP 18,418.03 million compared to PHP 26,618.9 million a year ago. Revenue was PHP 163,394.23 million compared to PHP 146,137.82 million a year ago. Net income was PHP 10,376.38 million compared to net loss of PHP 2,749.25 million a year ago. Basic earnings per share was PHP 1.38 compared to basic loss per share of PHP 0.37 a year ago. Diluted earnings per share was PHP 1.38 compared to diluted loss per share of PHP 0.37 a year ago.
JG Summit Holdings, Inc. is a holding company for a group of companies with substantial business interests in branded consumer foods, agro-industrial and commodity food products, real estate and hotel, air transportation, banking and financial services, and petrochemicals. It also has core investments in telecommunications and power generation and distribution. The Foods, Agro-Industrial and Commodities businesses segment is engaged in manufacturing and distribution of a diverse mix of salty snacks, chocolates, candies, biscuits, bakery products, beverages and others. The Air Transportation segment include air transport services, both domestic and international, for passengers and cargos, and line and light maintenance services. The Petrochemicals segment is a manufacturer of polyethylene (PE), polypropylene (PP), polymer grade ethylene, polymer grade propylene, partially hydrogenated pyrolysis gasoline, pyrolysis fuel oil, aromatics, butadiene and liquefied petroleum gas (LPG).