LT Group Inc., the holding company of most of the businesses of tycoon Lucio Tan, reported double-digit growth in its attributable net income for the full year 2022.

In a report to the stock exchange, the company said attributable net income last year hit P25.14 billion, 24 percent higher than the P20.25 billion booked in 2021.

Notably, the tobacco business contributed P15.28 billion, which accounted for the majority or 61 percent of the company’s total attributable income.

Meanwhile, the Philippine National Bank contributed P6.61 billion or 26 percent to group income.

Liquor posts robust growth

Tanduay Distillers Inc., on the other hand, added P1.47 billion or six percent of the total, while Asia Brewery Inc. accounted for P580 million or 3 percent.

Eton Properties Philippines Inc. contributed P372 million or 1 percent.

The LT Group also noted that its 30.9 percent stake in Victorias Milling Company, Inc. added P491 million or 2 percent of the total.

To recall, the LT Group declared a P0.50 per share special dividend, or P5.41 billion, which was paid on 16 December 2022.