CROWN ASIA FIRST QUARTER EARNINGS UP 38 PERCENT
Listed Crown Asia Chemicals Corp. (CROWN) grew its first quarter net income to P75.62 million, up 38 percent compared to a year ago as revenue increased across all divisions.
As CROWN continues to supply existing and new customers and infrastructure projects, it ended the quarter with revenues amounting to P514.64 million, a growth of 25 percent compared to P410.08 million it raked in a year ago.
The company declared dividends of P0.10 per share for 2022 which offered average yield of approximately 5.5 to six percent, ranking among the top investments in the market and among financial institutions.
CROWN, manufacturer of world class Pipes (PVC,PPR,HDPE) and premium PVC compounds and PVC Roofing materials CROWN Pipes, is the preferred product for both infrastructure and private development projects.
CROWN Pipes are used in flagship roads and expressway projects.
It is also used in major railway systems such as the North-South commuter Railway-Phase 1 and MRT 3.
Among the completed flagship infrastructure/PPP projects with CROWN Pipes are the NAIA expressways, CALAX, Skyway 3, MRT-7 and Clark International Airport.
CROWN Pipes were also used in renewable energy, telecommunications and reclamation projects.
CROWN Premium PVC Compounds are used for various product applications, foremost of which are for the manufacture of electrical wires and cables and for packaging and footwear.
CROWN embarked on complementary product expansions with its PVC septic tanks and bathroom essentials. More related products are in the planning board with the vision to offer a complete line of products for the construction industry.
To this end, business collaborations are constantly in various active stages to achieve the desired results.
CROWN believes that its strong corporate governance and ethical values in business dealings with all stakeholders will carry the company through generations and generations to come.