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Apr 5, 2016 @ 7:41

Strong sales push Crown Asia profits 53% higher

 

CROWN ASIA Chemicals Corp. saw its profit surge by 53% last year, fueled by strong sales of its pipes and polyvinyl chloride (PVC) compounds.

The listed firm’s net income reached P100.15 million in 2015 from P65.38 million in 2014, as revenues jumped 26.61% to P1.07 billion, Crown Asia Vice-President-Comptroller Tita P. Villanueva told a media briefing yesterday in Makati City.

Broken down, sales of PVC compounds more than doubled to P784.79 million, boosted by a 53% growth in export sales; while pipe segment sales increased by 36.78% to P402.04 million, due to “consistent growth” in the project segment that made up 64% of total pipe sales.

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