MANILA, Philippines - Listed Crown Asia Chemicals Corp., reported a five percent increase in earnings to P69.7 million in the first half from P66.4 million in the same period last year.
Company officials said the increase was due to strong sales of PVC compounds and pipes from local wire and cable companies.
Export of PVC compounds grew 19 percent while pipe group revenue increased three percent.
“We are seeing a favorable market turnaround compared to 2016,” said Eugene Lee Villanueva, president and general manager of Compounds Division.
The company expects the economic environment to remain strong as infrastructure projects start to gain active momentum due to the government’s Build Build Build program.
The company will soon launch its uPVC roofing materials, an addition to its portfolio of premium products. The new Crown uPVC long-span and ASA type roofings have build-in UV protection feature.