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Concepcion Industrial income rises to P186M

AIR conditioning and refrigeration firm Concepcion Industrial Corp. (CIC) doubled its net income for the first quarter of 2024 to P186 million, driven by higher volume amid hot weather conditions.

Net sales totaled P3.8 billion, up 33 percent compared to the same period in 2022, following significant growth across business segments, the company said in a disclosure on Wednesday.