Margin pressures, external headwinds temper CIC’s Q3 profit - BusinessWorld Online

Margin pressures, external headwinds temper CIC’s Q3 profit - BusinessWorld Online

CONCEPCION Industrial Corp. (CIC) reported a 24.74% decline in its third-quarter attributable net income to P107.2 million, as rising costs and external headwinds weighed on profitability despite higher revenues. Gross revenues for the quarter rose by 2.36% to P3.88 billion from P3.79 billion a year earlier, driven by stronger sales in refrigeration, laundry, and other appliances, as well as commercial products. The increase, however, was partly…