JG Summit profit down by 37% in first half

Photo from JG Summit Holdings/FACEBOOK

MANILA, Philippines — JG Summit Holdings Inc. saw its first-half core net income fall 37 percent to P13 billion as higher fuel prices and a weaker peso weighed heavily on its airline business.

On Wednesday, the Gokongwei-led conglomerate said the decline came despite strong property performance, improved margins in branded food and higher contributions from its core investments.

READ: JG Summit profit slides after quitting petrochemical business

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JG Summit profit down by 37% in first half

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