Pryce Corp., a leading industrial gas manufacturer, posted a marginal increase in net income for the first quarter of the year, reaching P1.08 billion from P1.07 billion in the same period last year. The company attributed the growth to stable demand for its LPG and industrial gas products, coupled with cost management initiatives.
Revenue for the quarter stood at P3.5 billion, slightly up from P3.4 billion a year earlier, driven by higher sales volumes in the LPG segment. Operating expenses were kept in check, allowing the company to maintain its profit margin.
"Despite a challenging market environment, we managed to deliver steady results," said a company spokesperson. "Our focus remains on operational efficiency and expanding our customer base."
Pryce shares closed unchanged at P6.00 on the Philippine Stock Exchange on the day of the announcement.