Pryce Corp. booked an almost 32 percent increase in consolidated revenues in 2021 to P15.37 billion from P11.71 billion in 2020 attributed to increased sales volume and higher contract prices of liquefied petroleum gas (LPG).
In a disclosure to the Philippine Stock Exchange, Pryce said sales volume of LPG increased by 11.86 percent from the previous year’s 242,474 metric tons (MT) to 271,242 MT with average contact price surging by 58.08 percent to $635.08 per MT from $401.75 per MT.
For the period, Pryce’s unaudited net income also registered a 12.11 percent growth to P1.82 billion from P1.62 billion.
Pryce said its LPG business segment contributed P14.248 billion or 92.69 percent to the consolidated revenues while industrial gas products provided for P874.04 million or 5.69 percent with the remaining P250 million or 1.62 percent from the group’s real estate and pharmaceuticals businesses.
Pryce added its expansion in home delivery fleet, import marine terminals, refilling plants and sales centers also contributed in the growth of retail sales last year. – Jed Macapagal
