- | $JGS annual net profit fell 24% to P22.4 billion in 2018 from P29.56 billion in 2017 |
- | The holding company tirmmed its income mainly due to costs and weaker peso |
- | Consolidated revenues went up P291.92 billion from P273.45 billion |
| Challenging year for Gokongwei stocks |
$JGS is having a rough year in 2018 due to challenges from its airline and manufacturing businesses. The company said that the reduced profit was due to “higher fuel and input costs, as well as and the weaker peso” faced by $CEB and $URC.
$URC net income fell -15% year-on-year to P9.2 billion while $CEB’s net income declined 33% to P5.9 billion due to challenges faced by the aviation sector. Its revenues, however, climbed by 9 percent to P74.1 billion from P68.03 billion on the back of strong demand in air travel and its cargo business.
April 17, 2019 10:49 am