PNB Holdings profit soars 85% ahead of listing

MANILA, Philippines — PNB Holdings Corp. saw its first-half profit surge by 85.3 percent as higher revenues from its property portfolio boosted its earnings ahead of a planned stock market listing. The LT Group’s property company reported a net income of P209.9 million in H1 2026, with revenue up 26% to P634.3 million from P502.7 million the previous year. READ: SEC clears PNB Holdings listing on PSE PNB Financial Center and PNB Makati Center remained the biggest revenue contributors, accounting for 67 percent and 26 percent of the total, respectively. Gross profit likewise jumped by 58.5 percent to P326.9 million, while earnings before interest, taxes, depreciation and amortization grew by 40.3 percent to P336.5 million. “We are encouraged by our first-half results as they demonstrate a growing and resilient revenue base, stronger profitability, and robust liquidity,” said Ponciano S. Carreon Jr., chief financial officer of PNB Holdings. “As we approach our planned listing by way of introduction, the company is well positioned to pursue growth opportunities with financial flexibility, capital discipline and a clear focus on long-term shareholder value,” Carreon added. In addition, the company attributed its performance partly to the repositioning of its properties into integrated workplace ecosystems. Likewise, these combine traditional offices with flexible coworking spaces, food and beverage concepts and health and wellness offerings. Meanwhile, PNB Holdings also continued to retain and expand existing tenants while optimizing its leasable portfolio. READ: PNB Holdings eyes stock market listing Moreover, the Department of Trade and Industry’s Likhang Filipino Exhibition Halls at PNB Financial Center boosted activity on the 10-hectare property. Carreon said the company’s working capital and low leverage give it room to pursue value-accretive redevelopment and acquisition opportunities when appropriate. /pai