Concepcion Industrial Corporation (CIC), the country's leading consumer lifestyle and enterprise solutions provider, reported that its consolidated earnings almost doubled to P944.9 million.

In a disclosure to the Philippine Stock Exchange, the firm said the 93 percent profit jump from the same period last year is due to its higher sales and improved margins.

Year to date, net sales of CIC, including Concepcion Midea, Inc. (CMI), grew 31 percent to P17.7 billion. On a reported basis, CIC posted P13.6 billion in net sales, reflecting a 25 percent growth. 

CIC also reported a 57 percent surge in third-quarter earnings to P218.2 million this year, demonstrating the strength of its operations and improved margins despite modest revenue growth.

“Our third quarter results reflect our proactive market strategies and extensive product portfolio,” said CIC President and CEO Ariel Fermin.

He noted, “We were able to meet heightened demand for appliances, especially during peak seasons, and provided critical solutions across sectors.”

CIC Chief Finance and Operating Officer Rajan Komarasu said, “Our results reflect CIC’s resilience and effective execution in a challenging market. Earnings growth significantly outpaced sales, underscoring our operational adaptability.”

Along with its associate (CMI), CIC achieved a 12 percent growth in net sales to P5.0 billion. On a consolidated basis, CIC delivered net sales of P3.8 billion, which reflects a five percent increase compared to last year.

The consumer segment performed well, particularly in refrigeration and appliance categories, driving a 12 percent increase in consumer net sales. 
In contrast, the commercial segment saw a decline of eight percent, primarily due to fewer large projects, though partially offset by strong air conditioning equipment sales through the contractor network.

“As we enter the fourth quarter, we are well-prepared for seasonal demand and remain focused on building momentum for the coming year,” Fermin said.