JG Summit sets 13­-15% profit guidance

JG Summit Holdings Inc., the listed conglomerate of the Gokong–wei family, expects its core net income to grow by 13 percent to 15 percent this year, driven by the snack food and airline businesses and the resumption of operations of the petrochemicals group.

“I think we view our most important number as our core net income. Last year was about P20.3 billion. We don’t really give forecasts for JG Summit, but I think we’re probably expecting double digit growth . . . low- to mid-teens,” Lance Gokongwei, JG Summit president and chief operating officer, told reporters after the firm’s annual stockholders’ meeting late Wednesday.