Concepcion Industrial Corp. , known for its stable brands of refrigerators and air conditioners, said its earnings doubled to P60 million in the fourth quarter of 2022.
Strong demand from the commercial and aftermarket businesses boosted sales of Carrier, Toshiba, Condura, Kelvinator, Midea and Otis.For the full year of 2022, the company’s income slid 5 percent to P358 million from last year’s P378.09 million. Net sales, meanwhile, grew 8 percent to P13.2 billion from the previous year’s P12.23 billion.
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