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JG Summit Q1 profit falls to P122 million


BusinessWorld
May 14, 2021 | 7:09 pm
JG Summit Holdings, Inc. posted a P122.19 million net attributable income in the first quarter, down 94% from P1.9 billion in the same period last year.
In a regulatory filing, the Gokongwei-led conglomerate said its core net income stood at P295 million “as margin gains from Universal Robina Corporation (URC) and JG Summit Petrochemicals Group (JGSPG) cushioned the negative impact of the pandemic in Robinsons Land Corporation (RLC), Cebu Air, Inc. (CEB) and Robinsons Bank Corporation (RBank)’s bottomline.”
Revenues stood at P67.64 billion, slightly down from last year’s P67.88 billion.
JG Summit said that the strong performance of its food and banking divisions, better use of its petrochemical plants, and the contribution of its Chengdu real estate project made up for the decline in Cebu Air’s revenues. ....

Keren Concepciong Valmonte , Lancey Gokongwei , Robinsons Retail Holdings Inc , Cebu Air Inc , Jg Summit Holdings Inc , Cebu Pacific , Jg Summit Petrochemicals Group , Robina Corporation , Robinsons Bank Corporation Rbank , Robinsons Land Corporation , Universal Robina Corporation , Petrochemicals Group , Cebu Air , Robinsons Bank Corporation , Robinsons Retail Holdings , Keren Concepcion , ராபின்சன் சில்லறை ஹோல்டிங்ஸ் இன்க் , ஸிபூ அேக இன்க் , ஜுக் உச்சிமாநாடு ஹோல்டிங்ஸ் இன்க் , ஸிபூ பெஸிஃபிக் , ஜுக் உச்சிமாநாடு பெட்ரோ கெமிக்கல்ஸ் குழு , ரோபினா நிறுவனம் , ராபின்சன் நில நிறுவனம் , உலகளாவிய ரோபினா நிறுவனம் , பெட்ரோ கெமிக்கல்ஸ் குழு , ஸிபூ அேக ,

JG Summit's profits eaten up by airline losses


Published May 14, 2021, 3:17 PM
JG Summit Holdings, Inc. (JGS), the flagship of the Gokongwei group, reported a consolidated net income of P122 million in the first quarter of 2021 from P1.9 billion in the same period last year.
Based on the firm’s disclosure to the Philippine Stock Exchange, earnings were weighed down by losses of its airline business as well as by some foreign exchange losses on its US-dollar bond.
JG Summit registered revenues of P67.6 billion for the first quarter of 2021, steady versus same period last year.
“Our food and banking segments remain stable, while businesses that were heavily impacted by the strict mobility restrictions and quarantine measures have shown sustained quarter-on-quarter recovery since the significant decline during the ECQ last year,” said JG Summit President & CEO Lance Gokongwei. ....

Lance Gokongwei , Cebu Air Inc , Manila Electric Company , Global Business Power Corporation , Jg Summit Holdings Inc , Jg Summit Petrochemicals Group , Robina Corporation , Community Quarantine , Robinsons Bank Corporation , Robinsons Land Corporation , Philippine Stock Exchange , Enhanced Community Quarantine , Universal Robina Corporation , Petrochemicals Group , Cebu Air , ஸிபூ அேக இன்க் , மணிலா மின்சார நிறுவனம் , உலகளாவிய வணிக பவர் நிறுவனம் , ஜுக் உச்சிமாநாடு ஹோல்டிங்ஸ் இன்க் , ஜுக் உச்சிமாநாடு பெட்ரோ கெமிக்கல்ஸ் குழு , ரோபினா நிறுவனம் , சமூக தனிமைப்படுத்துதல் , ராபின்சன் வங்கி நிறுவனம் , ராபின்சன் நில நிறுவனம் , பிலிப்பைன் ஸ்டாக் பரிமாற்றம் , மேம்படுத்தப்பட்டது சமூக தனிமைப்படுத்துதல் ,

S&P Global Platts 9th Asian Petrochemicals Markets Conference


Braskem
Renato T. Goebel holds a degree in Chemical Engineering from Escola de Engenharia Maua (EEM), postgraduate in Administration at the Fundacao Getulio Vargas (FGV) in Brazil and an MBA from Marshall School of Business – USC in USA together with Jiaotong University in Shanghai, China. He worked in several multinational companies such as Embraer, Klabin and Votorantim group. Started his carrier in Brazil in the procurement and supply chain area, moving to China on 2007 to open Votorantim International’s office in Shanghai. He joined Braskem in 2016 as Asia Commercial Manager for the Chemical business unit, based in Singapore. Under his leadership, Asia market relevance and importance grew inside Braskem and currently is looking for opportunities through strategic projects to strengthen the company’s presence in Asia. He is Braskem´s head of Asia Market for Chemicals since May 2018 and supporting the Feedstock and Chemicals Recycle teams since 2020. ....

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