LISTED compounds and pipes maker Crown Asia Chemicals Corp. on Wednesday said its net income after tax grew by 5 percent to P69.7 million from last year’s P66.4 million on the back of strong demand from local wire and cable companies.
Consolidated sales revenues rose 14.25 percent, it said. Compounds division sales increased by 24.39 percent to P363.9 million from last year’s P292.59 million.
“As a whole, we continue to experience sustained revenues from our Project Sales and Trade Sales segments in spite of delay with some projects of the government as it embarks on a different funding mode. We are confident that the administration will also prevail upon foreign governments to extend preferred attention to offered infrastructure projects under the ‘Build, Build, Build’ program,” Crown Asia Pipes Division General Manager Derrick Villanueava said.
The company said its pipe group revenues increased by 3 percent. “This is expected to reach upward trajectory as infrastructure projects start to gain active momentum in the months to come due to the government’s fast tracking of infrastructure projects,” it said.
The company is slated to launch its uPVC roofing materials, which will be an addition to its portfolio of premium products.
The new uPVC long-span and ASA (Acrylic Styrene Acrylonitrile) type roofing have built-in UV protection feature and come in different colors and sizes. They provide natural lighting and aid in sound dampening, and they are corrosion free, durable and will be cost effective over time, the company said.
“The management is in tune with our valued investors to provide good returns to their investments,” Pipe group head Walter Villanueva said.
Crown Asia is a plastics compound and pipes producer owned by the Villanueva and Perez families based in Guiguinto, Bulacan. It manufactures and sells plastic chemicals and compounds, as well as synthetic resins for
making construction materials such as tubes and pipes.