Gas manufacturer and memorial park operator Pryce Corporation posted a 57-percent increase in net income for the first nine months of the year driven by strong sales of liquefied petroleum gas (LPG). In a disclosure to the Philippine Stock Exchange on Wednesday, the company noted its net income rose to P712.5 million from P453.2 million a year earlier. The strong sales volume countered the impact of a nearly 15-percent drop in the average selling price of LPG. Pryce is positive it would reach this year’s net income guidance at P900 million. Earlier this year, the company announced an income of 53 percent over net earnings of P586.3 million in 2015.

Source: Manila Times October 26, 2016 17:15 UTC