Jg Summit Holdings, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 13, 2020 at 01:07 am EDT
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JG Summit Holdings, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was PHP 3,827.904 million compared to PHP 7,967.058 million a year ago. Operating loss was PHP 450.665 million compared to operating Income of PHP 18,505.198 million a year ago. Net loss was PHP 2,622.917 million compared to net income of PHP 10,940.204 million a year ago. Basic loss per share was PHP 0.37 compared to basic earnings per share of PHP 1.53 a year ago. For the half year, sales was PHP 15,219.584 million compared to PHP 14,744.357 million a year ago. Operating income was PHP 8,653.895 million compared to PHP 30,849.260 million a year ago. Net loss was PHP 720.254 million compared to net income of PHP 17,395.724 million a year ago. Basic loss per share was PHP 0.1 compared to basic earnings per share of PHP 2.43 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).