CIC unaudited net up 86% to P667M

By Brix Lelis

Feb 01, 2024 12:18 am

CONCEPCION Industrial Corp. (CIC) reported on Wednesday that its 2023 unaudited net income rose by 86 percent to P667.3 million, from P358 million in 2022, on the back of an 11-percent increase in sales.

The air-conditioning and refrigeration firm closed last year with P14.7 billion in net sales, higher than the P13.2 billion recorded a year earlier. Including contributions from associate Concepcion Midea Inc. (CMI), net sales expanded by 15 percent to P18.2 billion.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Megawide to build new Caticlan airport terminal

Globe secures P3-B loan from sister firm

Aboitiz Infra wins bid to upgrade Bohol airport

BDO Capital sees opportunities in growing PH energy investments

NGCP fined P12.3M over delayed projects

Agrinurture reports nine-month net loss

PSEi seen hitting 8,000 level in 2025