Concepcion Industrial’s profit quadrupled in third quarter

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Appliance maker Concepcion Industrial Corp. saw its third-quarter net income quadruple to P139 million from P33.9 million in the same period last year.

Its associate Concepcion Midea Inc. also booked P4.5 billion in net sales with a growth rate of 24 percent. Consumer business generated P2.3 billion in net sales, up 6 percent year-on-year, while air conditioning product sales, which accounted 46 percent of the consumer business, grew 19 percent versus last year’s level.

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MlaStandard /  🏆 20. in PH

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