LPG boosts Pryce revenues


    Pryce Corp. reported a profit of P1.22 billion for the first nine months of the year, up 1.24 percent from last year’s P1.21 billion.

    Revenues grew 14.03 percent to P8.994 billion from P7.887 billion a year ago.

    “The increase in gross revenues is largely explained by the growth in sales volume of LPG (liquefied petroleum gas) content,” the company said, noting that this segment posted a 15.45 percent growth, accounting for 95 percent of the business.

    Revenues from other products such as industrial gases, real estate and pharmaceutical products, meanwhile, stood at P466.70 million.

    “Notwithstanding the (new) coronavirus (disease 2019) pandemic, the management still sees the last quarter as the strongest in terms of LPG sales and income because of the December festivities/holidays,” Pryce said. – R. Castro