Concepcion Industrial Corp., a leading provider of consumer lifestyle and enterprise solutions, on Tuesday reported a 57 percent increase in third-quarter net profit to P218.2 million, highlighting the strength of its operations and improved margins despite modest revenue increases. Group net sales rose 5 percent to P3.8 billion, helped by a 12 percent rise in consumer sales.
The commercial segment, however, saw an 8 percent decline, primarily due to fewer large projects. Concepcion Industrial said strategic focus on its core products and robust sales of air conditioning equipment through its contractor network helped maintain earnings growth.Rajan Komarasu, the listed company’s chief finance and operating officer, said that the results reflect Concepcion Industrial’s resilience and effective execution in a challenging market.
In the nine months to September, Concepcion Industrial along with Concepcion Midea Inc., saw net sales rise 31 percent to P17.7 billion that pushed net income 93 percent higher to P944.9 million.
Ariel Fermin, the company’s chief executive officer, said the earnings performance reflects proactive market strategies and an extensive product portfolio.
He highlighted the company’s ability to meet heightened demand for appliances, especially during peak seasons, and the provision of critical solutions across various sectors.
