Pryce Corp. said it grew its nine months profit for the year by 28.4 percent to P1.578 billion, from P1.23 billion last year.
“By far, this is the highest first 9-month period net income that is recorded,” the company said.
Pryce attributed the growth to the 7.50 percent increase in the sales volume of its liquefied petroleum gas (LPG).
The company, however, noted a decline in its topline by 2.29 percent to P14 billion from P14.33 billion last year, attributed to the lower contract price (CP) of LPGs at $568.35 per metric ton (MT), down 27.44 percent from $776.83 per MT last year.
“LPG’s peso-sale revenue would have been much higher had it not been for the CP decline,” Pryce said.
The company’s LPG sales grew by 30.50 percent in terms of volume for the period.