JG Summit Holdings Inc.'s core income nearly tripled to P12.6 billion in the first quarter of 2024 from P4.4 billion the year before, a result it said was driven by the robust growth of the food, real estate and air transport businesses.The first-quarter result was also boosted by a P7.9-billion gain from the January 1 merger of Robinsons Bank Corp. with the Ayala Group's Bank of the Philippine Islands, the conglomerate said in a filing on Wednesday.
'We will also continue to support our ecosystem plays, which are on the path to attaining scale via customer acquisition and new product launches,' Gokongwei said.From January to March 2024, JG Summit's consolidated revenues surged 18 percent year-on-year to P96.7 billion amid the continued topline improvements across all its businesses.Cebu Air Inc., operating as Cebu Pacific, saw core earnings soar 54 percent year-on-year to P1.8 billion as revenues climbed to P25.
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