Manila, March 27 -- JG Summit Holdings, Inc., Gokongwei family's listed holding company, is banking on the expected easing of inflation to drive revenue growth this year.

JG Summit reported Thursday that its revenues grew 11 percent reaching PHP379.7 billion in 2024, with core profits increasing by 29 percent to PHP24.9 billion year-on-year.

The company attributed its strong bottomline last year from a PHP7.9-billion gain after its banking subsidiary Robinsons Bank merged with Bank of the Philippine Islands (BPI) on Jan. 1, 2024.

JG Summit added that this offset the losses in other businesses, such as lower profits in its petrochemical unit JG Summit Olefins Corp. (JGSOC) due to weak polymer margins, higher costs from its Cebu Air, Inc...