Homegrown personal care manufacturer Splash Corp. said net income in first the first quarter of 2015 jumped 46 percent year-on-year to P49 million, on the back of higher sales.
Splash said in a disclosure to the stock exchange first-quarter net income already surpassed by more than four times the P12-million net income booked in the whole of 2014.
First-quarter sales increased 15 percent to P957 million from P832 million a year ago while operating income rose 36 percent to P58 million from P43 million.
Total sales of the personal care segment grew 18 percent in the first quarter, with Philippine operations posting a 21-percent growth; international operations, 4 percent; and direct sales, 5 percent.
The growth in sales of personal care products more than made up for the 10-percent decline of the sales of the foods segment.
Splash said it was pursuing efficiencies in all aspects of its business to improve operations.
Splash booked P12 million in net income in 2014, down from P73 million in 2013, which included P70-million extraordinary gain arising from the sale of non-core asset.
Splash’s flagship personal care brands continued their strong showing in international markets.