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Conglomerate GT Capital Holdings Inc.
MANILA, Philippines – GT Capital Holdings Inc. posted a consolidated net income of P8.91 billion in the first quarter, down 3 percent from P9.14 billion a year earlier, as geopolitical tensions and weaker consumer spending weighed on results.
The Ty-led conglomerate said on Friday its core net income likewise declined to P7.96 billion from P8.7 billion in the same period last year.
The company said the first quarter was marked by supply chain disruptions, elevated fuel and commodity prices and heightened foreign exchange volatility.
