Pryce Corp., a listed company with diversified business interests, said Thursday it posted a record net profit of P2.22 billion, fueled mainly by its growing liquefied petroleum gas venture.
The net profit in 2023 was a 32 percent growth from the P1.69 billion the company, which also has memorial parks and pharmaceuticals distribution, earned in 2022.
The company, through its unit Pryce Gases, saw LPG sales rise by 7.9 percent to 298,499 tons last year on strong demand in Luzon. Pryce is based in Mindanao.
“The growth in net income is due to the improvement of LPG margins, particularly in the Luzon market,” it said.
