Pryce Corp. booked a 19- percent jump in its consolidated net income in the first nine months of the year to P1.45 billion from P1.22 billion in the same period last year.
Pryce Corp. , which is mainly involved in the sale of liquefied petroleum gas (LPG), also registered a 24-percent increase in gross revenue to P11.18 billion from last year’s P8.99 billion.
In a disclosure to the Philippine Stock Exchange, Pryce Corp. said sales of LPG and its related products accounted for 92 percent of gross revenue while sales of industrial gas products contributed 7 percent with real estate sales and pharmaceutical sales covering the balance.
Pryce Corp. added the 20 percent growth in LPG revenues from P8.53 billion to P10.26 billion also became a factor, driven by the combination of the rise in international LPG contract price (CP) and the increase in sales volume of LPG cooking gas.
Average CP of LPG jumped by 65 percent from $351.67 per metric ton (MT) in 2020 to $579.89 per MT this year.
