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Concepcion Industrial Corp. (CIC) said profit for the first half of the year grew 33 percent to P350.3 million from P263.38 million.
Revenues grew 8 percent to P7.2 billion from P6.67 billion, with air conditioning sales up 18 percent while sales of appliances up 112 percent.
This was, however, offset by the decline in the elevator equipment and refrigerator businesses.
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The consumer segment accounted for the largest proportion of sales at 74 percent. The strong demand for window room air conditioner and laundry products led to 3 percent year-on-year sales growth to P5.3 billion in the first half of the year.
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