Concepcion Industrial Corp. , a manufacturer of refrigerators and air-conditioning units, said its income almost doubled to P554.66 million in January to September from the previous year’s P288.4 million.
For the third quarter alone, the company said its income was up by more than half to P218.2 million from the previous year’s P139.04 million. Revenues for the period, however, were almost flat at P3.79 billion from the previous year’s P3.62 billion. “The consumer segment performed well, particularly in refrigeration and appliance categories, driving a 12-percent increase in consumer net sales,” the company said.
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