GT Capital's earnings fell due to real estate losses

GT Capital Holdings Inc. reported a slight drop in net income for the previous year, finishing at P28.8 billion, a decrease of 1.71 percent. The decline was mainly due to reduced profits from its real estate arm, Federal Land Inc. Despite the overall fall in earnings, GT Capital's core businesses showed strong performance. Metrobank's net income rose by 14 percent to a record P48.1 billion, and Toyota Motor Philippines saw a 15.3 percent increase, selling nearly half of the country's total automobile sales. Federal Land struggled with a significant reduction in profits, down 64 percent to P750 million, amid a challenging market. However, Metro Pacific Investments Corp., linked to GT Capital, reported record earnings of P23.6 billion, boosted by its power and water ventures.