SPLASH Corp., the maker of beauty products, is allotting P66.4 million for capital spending next year.
This will be spent for “cost-saving and capacity-expansion of current product lines, plant expansion for new product introduction, and FDA [Food and Drug Administration] regulatory requirements,” the company said in a disclosure to the Philippine Stock Exchange.
In the first nine months of 2015, Splash’s net income tripled to over P120 million from around P40 million a year earlier on the back of stronger sales in personal care and its food business.
Given the fourfold improvement in its performance year-on-year, the company earlier said it aims to grow in double-digit terms annually in both revenue and net income.
The company is behind such personal care brands as Kolours, Vitresse, Extraderm, Maxi-Peel, Skin White, Biolink, and Theraherb VCO, as well as food brands Barrio Fiesta and Moondish Foods.
Its products and brands are present in Southeast Asia, Europe, Middle East and Africa as well as in the United States, China, Hong Kong, Japan, South Korea, Taiwan and India.