Pryce Corporation
...meron pa 'to sigurong akyat

Pryce profit jumps more than 50% in 1st quarter

PRYCE Corp. reported a net income of P301.7 million in the first quarter of 2017, up 54% from P196.4 million in the same period last year, driven by double-digit growth in cooking gas sales.
“Similar growth was achieved in consolidated revenues which expanded by 52.3%,” the company told the stock exchange on Tuesday.

Pryce attributed the higher revenues to a 22% increase in sales volume of liquefied petroleum gas (LPG) and the significant number of new LPG cylinders sold to households under the PryceGas brand of its subsidiary Pryce Gases, Inc.

Year-on-year sales volume climbed by 22% to 49,560 metric tons (MT) from 40,583 MT a year ago.

“Revenues evidently grew faster than volume considering the rise in LPG contract prices (CP) from $408 per MT in December of 2016 to $477, $573, and $564 per MT in January, February, and March of 2017, respectively,” the company said. -- Victor V. Saulon

Pryce said its LPG business had brought in P2.08 billion in sales, accounting for 94% of the total consolidated revenues of more than P1.32 billion, or higher by 57% compared the year-ago figure.

The industrial gas products segment delivered P102.3 million or a share of 4.6%, while sales from real estate and pharmaceuticals businesses made up 1.15% and 0.33%, respectively.

“Hotel operations ceased to contribute to revenue starting this quarter in view of the closure of the Pryce Plaza Hotel on December 31, 2016,” the company said.

However, Pryce noted that gross margin dropped to 23% from 25% because of the higher contract prices of LPG.

“Operating expenses were controlled at 8.5% of revenues. These and the significant growth in LPG sales provided for the above-reported year-on-year net income growth of 53.6%,” it said.

Citing figures from the Department of Energy, the company said its unit Pryce Gas had overtaken a competitor to become the third-biggest player nationwide in terms of market share, as of end 2016.

“Management believes that similar growths in revenues and income can be achieved in the next quarters of 2017 on account of continued gains from infrastructure expansions begun the past two years, a determined effort to scale growth in the sales of LPG cylinders to new users, and, strong household consumption brought about by higher purchasing power,” it said.

Pls don't follow me....I'm lost too! hehe
...may rumor akong narinig tungkol dito dati eh, I just can't recall it anymore, pero parang hold ang pagkasabi sa akin dito dati

Pryce Corp.’s 9-month income shoots up 32%

PRYCE Corp. said its net income grew 32 percent during the nine months of the year ending September, partly fueled by higher sales of its cooking-gas business.

The company is also likely to achieve its P1.25-billion target net income for the year after it posted P942.69 million from January to September this year. Pryce’s profit from January to September last year was at P712.48 million.

“The last quarter being historically the strongest of the year in terms of sales volume, management expects to attain its net income target of P1.254 billion for the year, plus or minus 10 percent,” it said.

Revenues grew by almost 37 percent. This was fueled mainly by a 23.3-percent growth in liquefied petroleum gas (LPG) sales volumes in the Visayas and Mindanao markets, despite a 41-percent increase in average LPG contract prices from $329 per metric ton (MT) to $463 per MT from January to September this year. LPG revenues accounted for 93 percent of total sales, while sales of industrial gases, real estate and pharmaceutical products accounted for the balance of 7 percent.

Operating expenses rose to P612.47 million from the same period of last year, brought about by an increase in depreciation expenses as a result of the reappraisal conducted at the end of the last fiscal year. Nevertheless, operating income rose 27 percent from last year’s P759.15 million to P964.55 million, with the increase in revenues overtaking the increase in expenses.

The company’s expansion of storage capacity, from 2,200 MT to 3,400 MT, in its Santa Cruz, Davao del Sur, marine terminal was completed during the third quarter of the year.

The terminal is now receiving monthly deliveries of LPG at roughly $20 per ton cheaper. Expansion of storage capacities at other terminals in Balingasag, Misamis Oriental and Sogod, Cebu, are ongoing and will be completed in June or July next year, the company said.

Pls don't follow me....I'm lost too! hehe
rumor = Okada hehe

lahat na lang Okada
PPC consolidating inside a box. Watching if 7 is broken and retests previous high of 7.80.

Still no announcement on dividend declaration.
And a man, a man provides. And he does it even when he's not appreciated, or respected, or even loved. He simply bears up and he does it. Because he's a man.

- Gus Fring
hay PPC kelan ka ba gagalaw ulit. Next year 3 yrs na tayong magkasama. investor mode na ako sa iyo. ahahahha mauunahan ka ni MJC.
(12-06-2017, 05:35 PM)macmac1 Wrote: hay PPC kelan ka ba gagalaw ulit. Next year 3 yrs na tayong magkasama. investor mode na ako sa iyo. ahahahha mauunahan ka ni MJC.

damihan mo na lang daw bili LPG hehe
(12-06-2017, 05:35 PM)macmac1 Wrote: hay PPC kelan ka ba gagalaw ulit. Next year 3 yrs na tayong magkasama. investor mode na ako sa iyo. ahahahha mauunahan ka ni MJC.

damihan mo na lang daw bili LPG hehe
...gagalaw na ba ulit ito? Tongue

Pryce Corp gets nod to raise capital stock

Listed Pryce Corp. was cleared to infuse fresh capital after its board approved a P98-million increase in its authorized capital stock.

In a disclosure to the Philippine Stock Exchange, Pryce said it secured the approval of the Securities and Exchange Commission (SEC) to raise its authorized capital stock from P2 billion to P2.098 billion.

The infusion of fresh capital into the company is to accommodate a new investor, it said.

This is “to allow for the subscription by Josefina Multi-Ventures Corp. to 24,500,000 shares at the subscription price of P5.00 per share under the placing and subscription transaction disclosed to the Exchange last Dec. 7, 2016, and otherwise, to allow the company to expeditiously raise funds via stock subscriptions.”

Last year, Pryce announced it is selling 24.5 million common shares to a third party institutional buyer through an investment banker to fund its working capital requirements as well as boost the company’s stock value in the market.

Part of the sale, which amounts to P122.5 million, will be taken from the authorized capital stock increase.

Pryce announced its plans to strengthen its liquefied petroleum gas (LPG) brand, PryceGas, with a P1-billion investment in 20 refilling plants.

The expansion, which will be undertaken by its subsidiary Pryce Gases Inc. (PGI) and its unit Oro Oxygen Corp. is aimed at widening its LPG’s brand reach in Luzon.

This year, the firm said it is expanding the capacity of its LPG terminals to solidify its position as one of the country’s major distributors of cooking gas in Visayas and Mindanao.

PGI is boosting its storage capacity in three locations namely in Sta. Cruz,  Davao del Sur, Balingasag, Misamis Oriental, and Sogod, Cebu.

The Davao del Sur terminal recently added 1,200 metric tons (MT) on top of its existing 2,200 MT capacity.

Another 2,000 MT will be built in the 1,100-MT terminal in Balingasag, Misamis Oriental and an additional 1,200 MT will be added to the existing 2,590-MT terminal in Sogod, Cebu. Both expansion works will be completed in May 2018.

Last January, PGI completed the 2,100-MT storage tank in its import-marine terminal in Albuera, which effectively increases the terminal’s total storage capacity to 3,100 MT.

Pryce expects to meet its P1.26-billion income target for 2017 on the back of a seasonally stronger LPG sales in the second half of the year.

Pls don't follow me....I'm lost too! hehe
(12-07-2017, 01:16 PM)phantom Wrote:
(12-06-2017, 05:35 PM)macmac1 Wrote: hay PPC kelan ka ba gagalaw ulit. Next year 3 yrs na tayong magkasama. investor mode na ako sa iyo. ahahahha mauunahan ka ni MJC.

damihan mo na lang daw bili LPG hehe

namumulot na lang ako ng mga kahoy panggatong.  nut
...kaya pala gumalaw eh, may good earnings report Smile

Strong LPG sales fuel Pryce profit in 2017

PRYCE Corp. posted a 29% increase in net income in 2017, driven by higher revenues from sales of liquefied petroleum gas (LPG), the company told the stock exchange on Wednesday.

The listed firm, which imports and distributes LPG under the brand name PryceGas among its businesses, said last year’s P1.25-billion profit was within its target.

Consolidated revenues rose 37% to P9.23 billion in 2017 from P6.72 billion, with sales volume growing by double-digits after the increase in LPG prices last year.

“Sales volume of LPG grew 11% to 210,000 metric tons (MT) from the previous year’s 189,000 MT. Despite this modest volume growth, revenues were up 37% because of the sharp increases in LPG contract prices during the year,” the company said.

In 2017, contract prices averaged $491 per MT, 42% or $145 higher than the previous year’s average of $346 per MT.

“Volume growth was achieved mainly in the Visayas and Mindanao (VisMin) regions, where demand is more concentrated on fuel for household cooking. Sales in the VisMin regions experienced a 22% year-on-year volume growth as compared to about 4% volume growth in Luzon,” Pryce said.

In value, sales of LPG along with cylinders and accessories stood at P8.67 billion, making up 94% of total revenues. Industrial gas sales amounted to P391.5 million, or 4% of revenues. Sales of real estate as well as pharmaceutical products accounted for the rest.

For 2018, Pryce said it would continue its expansion projects to increase the storage capacities of its marine terminals. The move, which was started about two years ago, is also aimed at bringing its products closer to the markets.

The company said all of its seven VisMin import terminals had been or would be expanded to allow each one to accommodate at least one shipload of 2,500 MT cargo.

It said the expansion of its terminals in Albuera, Leyte as well as in Sta. Cruz, Davao del Sur had been completed last year. It expects the expansion of the LPG terminals in Sogod, Cebu and Balingasag, Misamis Oriental to be completed by July and August 2018.

Pryce said the ability to discharge a shipload in a single terminal would reduce its import costs by $10 to $20 per MT.

The company will build at least 15 refilling plants in VisMin areas to make its product closer to consumer markets.

“These expansions are expected to be completed by the end of 2019 and all are funded from internally generated funds,” the company said.

For 2018, the company expects sales volume to increase by 15% and profit to rise by 20%. It attributed the target to the expansion projects and the implementation of Republic Act 10963 or Tax Reform for Acceleration and Inclusion (TRAIN) Law.

In particular, Pryce said net income is targeted to reach P1.55 billion “plus or minus 10%” for this year. 

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