CROWN Asia Chemicals Corp., maker of PVC pipes and fittings, said its net income grew by 14 percent last year to P114.5 million, from P100.15 million in 2015.
Its Pipe Group revenues grew by 29 percent to P519.97 million, as project sales accounted for 63 percent of sales.
Project sales increased by 27 percent to P328.09 million, from P257.69 million, while trade sales expanded by 33 percent to P191.88 million, from P144.35 million in 2015.
“The compounds-division revenues remained conservative,” the company said.
To protect its segment bottom line, the company preferred to take a defensive stance from indiscriminate-price strategies to compete, especially in its exports sector.
“Crown Asia PVC compounds will continue to serve reputable companies manufacturing wires and cables, IC tubes, films, sheets and packaging products,” said Walter Villanueva, chairman and head of Pipe Group.
The company said it is soon launching new products, such as uPVC roofing materials.
“Considering that the Philippines is a tropical island-country, Crown’s new products will be a welcome choice for roofing materials. They act as natural insulator, keep inside temperature cooler and provide adequate natural lighting, thus minimizing power consumption,” it said.
Crown uPVC long-span roofing will be a preferred choice of practitioners in the construction industry, not only for residential, but also for commercial, industrial, high-rise roof toppings and peripheral structures, it said.