PRYCE Corp. said profit in the first half of the year grew 61 percent to P1.32 billion from last year’s P819.68 million.
Revenues were slightly down at P9.54 billion from last year’s P9.58 billion.
“Despite the flattish consolidated revenues, Pryce’s gross profit still went up by 29 percent, from last year’s P2.31 billion to P2.98 billion this year, which can be attributed to the improvement of LPG (liquified petroleum gas) margins in Luzon,” the company said.
Operating income hit P1.66 billion, up 49 percent from P1.12 billion.
Pryce said of its topline, the LPG business contributed the bulk at P8.96 billion or 93.86 percent, industrial gases contributed P425.92 million or 4.46 percent, real estate and interment service fees pitched in an aggregate of P136.65 million or 1.43 percent, and pharmaceutical products at P22.98 million or 0.24 percent.
