BUSINESS stays lush for leading personal care firm Splash Corporation, as the homegrown firm tripled its net income to over P120 million in the first nine months of 2015 from just around P40 million a year ago.
“For the first three quarters of 2015, the growth in net income came from stronger sales in personal care and food businesses,” said Splash in a disclosure to the Philippine Stock Exchange.
The company also attributed the whopping gain to the significant 67.2-percent rise in operating profit from P71 million in the first three quarters of 2014 to P119 million in the same period this year.
Splash said sales increased by 9 percent to P2.795 billion from P2.568 billion last year.
It said revenues from local personal care operations grew by 13 percent, while international operations posted an even bigger 22-percent gain in the first nine months’ period.
“These increases more than made up for the decline in sales for Direct Sales and Food,” the company reported.
Formed in 1985 by the iconic Filipino physician-couple, Drs. Rolando and Rosalinda Hortaleza, Splash has given well-known foreign brands serious competition in the local market with its popular beauty and whitening product lines like Skin White, Maxi-Peel, Kolours, Biolink, and Vitresse.
Splash forayed into the food business, when it bought Barrio Fiesta Manufacturing Corporation for P472 million in 2011, thereafter churning out branded shrimp paste, recipe mixes, and flavored vinegar.
In 2012, Splash bought out Moondish Corporation for about P33 million, and now produces a line of canned ready-to-eat Filipino dishes like laing, for both local and foreign markets.