PRYCE Corp. (PPC) achieved an increase in its net income by 61 percent for the first half of the year 2024, from last year’s P819.68 million to this year’s P1.32 billion.
First-half consolidated revenues, however, were flat at this year’s P9.54 billion compared to last year’s P9.58 billion.
Despite the flattish consolidated revenues, the firm’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 margins in Luzon.
PPC’s income from operations went up by 49 percent from P1.12 billion to P 1.66 billion. Consequently, net income rose by 61 percent to a company record high of P1.32 billion for a semester. / PR