Crown Asia profit up 27%

    157

    Crown Asia Chemicals Corp.  said profit for the first half of the year reached P88.41 million, up 27.15 percent from the prior year’s P69.53 million.

    Consolidated revenues reached P718.27 million, up 18 percent from P608.53 million a year ago.

    The company said the rise was due to “better accelerated infrastructure activities, more aggressive sales efforts, broader geographic and market segment diversification.”

    “This growth uptrend is seen across all divisions namely PVC (polyvinyl chloride) compounds, PVC Pipes, PPR/HDPE (polypropylene/high density polyethylene) pipes and PVC roofing,” Crown Asia said.

    “The management team believes that the momentum will be sustained given many improvement programs aligned to achieve revenues and operational growths,” it added.

    Crown Asia said it just issues a dividend pay-out of P 0.09 per share.