CIC booked 57% earnings growth to P218m in Q3

Concepcion Industrial Corp. , the country’s leading provider of consumer lifestyle and enterprise solutions, reported a 57-percent rise in third-quarter earnings to P218.2 million, demonstrating the strength of its operations and improved margins despite modest revenue growth.

The consumer segment performed well, particularly in refrigeration and appliance categories, driving a 12-percent increase in consumer net sales. CIC including CMI’s net sales grew 31 percent to P17.7 billion in the first three quarters of 2024. On a reported basis, CIC posted P13.6 billion in net sales, reflecting a 25-percent growth.

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Consumer segment boosts earnings of CIC in January-SeptemberConcepcion Industrial Corp. (CIC), 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. The company also said its revenues during the period rose to P13.6 billion from last year’s P10.85 billion.
Source: BusinessMirror - 🏆 19. / 59 Read more »