Crown Asia Chemicals Corp. grew its 2022 profit by 2.05 percent to P228.9 million from P224.3 million the prior year.
Revenues inched up by 1.15 percent to P1.76 billion from P1.74 billion.
The company said it continues to look with optimism the government’s infrastructure plans as it contributes to the recovery of construction activities.
“Crown pipes, supplier to the Metro Manila Subway, North-South Commuter Railway, Skyway 3 extension, CBEX (Cavite-Batangas Expressway), Wawa Dam, to name a few, has upcoming several years of revenue streams from major infrastructures that will impact the Philippine economy, progress and development benefitting several sectors and generations to come,” it said.
“These infrastructure stretches up to years 2023-2028 to either be partially completed and/or fully operational. In the pipeline for 2023-2024 is the introduction of another proudly Filipino pipe brand that will provide quality and safety to the construction industry,” the company added.
Crown said it is declaring a P0.09 per share cash dividend to be paid in two tranches. The first tranche has a record date of April 5, 2023, with payment date on May 3. The second tranche has a record date of August 31, 2023, with payment set on September 25. – Ruelle Castro
