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GT Capital subsidiaries report strong growth for Q1 2012...

GT Capital Holdings disclosed that their component companies showed strong growth trends for the first quarter of 2012, a very good omen for the newly listed Investment Holding vehicle of taipan George 5K Ty. In his speech at the PSE trading floor on Listing Day, Mr. Alfred V. Ty, Vice Chairman for GT Capital stated that "We are in the midst of a changing economic landscape in the Philippines where the opportunities and prospects for economic growth have never been brighter..."
Federal Land Inc. reports that reservation sales from January to March of this year have reached Php 3.8 Billion, a 113% growth over the levels from the same period last year. Strong reservation sales were realized for various projects in all four corners of Metro Manila, namely the Metropolitan Park development in Pasay, the projects in the Central Business District of Makati, the Binondo projects, as well as in the eastern part of Metro Manila.

Toyota Motor Philippines Corporation continuous to be the number one automotive company in the country selling 12,645 units registering a 38.8% market share based on CAMPI sales report for the first quarter of 2012. The locally manufactured Vios remains to be the country's best selling model. As early as the first quarter of the year, Toyota launched the new Avanza, Innova together with other new models to further strengthen its product line-up. Toyota on its part will continue to introduce attractive products and services to increase its share in the local market.

AXA Philippines reports a 32% growth in sales (Annualized Premium Equivalent), for the first quarter of the year, led by the regular premium business which grew by 53% on a year-on-year basis, with single premium business remaining flat from last year. The early results are showing that the strategic drive to invest in expanding the agency force, are starting to pay-off resulting in positive momentum on the regular premium business.

Global Business Power's two brand new coal-fired plants in the Visayas with a total capacity of 410 MW were commissioned only March last year. Therefore the GBPC first quarter results for 2012 show significant growth of 140% versus 2011 year-on-year, in both output and revenues as the current results would reflect tile two new plants operating at optimal levels. The full year impact of the operational plants plus some opportunistic gains in the WESM spot market sales are expected to further spike up financial results for GBPC during the year.

Metrobank continues to benefit from improving economic fundamentals manifested in sustained core earnings growth for the first quarter of the year. Credit demand is better than expected with good growth from all lending segments, coupled with improvements in the deposit mix and credit costs. Meanwhile, non-interest income growth has been primarily driven by increased consumer demand for investment and treasury products as well as higher fee-based income. The Bank remains optimistic on the prospects for the rest of the year.

Overall, the first quarter trends for the component companies of GT Capital Holdings support Mr. Alfred Ty's pronouncement that" "GT Capital and its component companies are now strategically positioned to grow further and to become a key partner in the emerging Philippine growth story."

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"GT Capital subsidiaries report strong growth for Q1 2012" was written by Mary under the Business category. It has been read 1449 times and generated 0 comments. The article was created on and updated on 20 April 2012.
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