Pryce Corporation announced a 30.4% increase in net income to P3 billion in 2024, driven by higher margins on its liquefied petroleum gas (LPG) products in Luzon. Consolidated revenues also rose by 6.3% to P20.47 billion, with LPG being the primary contributor. The company attributed the growth to an increase in the average contract price of LPG and the commencement of commercial operations at its Mindanao air separation plant.
Pryce Corp. said Tuesday it posted a net income of P3 billion in 2024, up 30.4 percent from P2.356 billion in 2023 on improved margins of its liquefied petroleum gas products in Luzon.
Pryce said the LPG segment contributed P19.18 billion or 93.71 percent of total revenues, industrial gases provided P913.57 million or 4.46 percent; revenues from memorial park operations pitched in an aggregate of P326.78 million or 1.60 percent; and pharmaceutical products added P46.53 million or 0.23 percent.
Income from operations went up by 27.6 percent to P3.82 billion from P2.99 billion in 2023, despite the 2.4-percent rise in operating expenses.
FINANCE LPG INDUSTRIAL GASES PHILIPPINES REVENUES
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