JGS profit falls for Q1

JG Summit profit falls 55%

MANILA, Philippines -- JG Summit Holdings Inc., of the Gokongwei group, reported a first-quarter net income of P1.75 billion, down 55 percent from P3.88 billion in the same period last year, which included P3.21 billion in one-off gains from the sale of shares in food subsidiary Universal Robina Corp.