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Pryce Corporation
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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.


source: http://www.bworldonline.com/content.php?...&id=144573
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...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.


source: https://businessmirror.com.ph/pryce-corp...ots-up-32/
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rumor = Okada hehe

lahat na lang Okada
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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.

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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.
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(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
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(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
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