Pryce Corp. recorded steady net income in the first half of the year, relying on robust revenue from its core liquefied petroleum gas (LPG) business and accelerating momentum in industrial gas operations to cushion the impact of Middle East market volatility.

In a disclosure to the Philippine Stock Exchange (PSE), Pryce said it generated ₱1.93 billion in consolidated net income during the six-month period ending June, matching its performance from the same period last year.

Consolidated revenues climbed 3.57 percent to ₱11.72 billion from ₱11.31 billion a year earlier, buoyed by solid demand in its primary operational divisions.

Pryce’s dominant LPG division served as the primary growth engine, delivering ₱10.65 billion in revenue—an 8.71 percent increase from ₱9.79 billion in the first half of 2025. Top-line performance was lifted by higher global benchmark rates, with average contract prices rising to $662.75 per metric ton from $606.17 per metric ton a year prior. Total LPG sales volume remained stable at 128,000 metric tons.

The company encountered operational headwinds during April and May, when escalating conflict in the Middle East disrupted energy supplies and triggered pricing spikes that weighed on domestic demand. However, sales volumes recovered to pre-conflict levels by mid-June, positioning the company for stronger expansion in the second half of the year.

The company’s industrial gas division posted even sharper growth, surging 26.25 percent to ₱690.56 million in revenue as unit sales volume expanded 21.19 percent to 1.87 million standard cylinders.

To capture additional domestic market share, Pryce is advancing key infrastructure projects, including a new air separation plant in Davao scheduled for commercial completion in early 2027.

Cost discipline helped insulate margins against rising input expenditures. Total costs and expenses for the six-month period grew 4.3 percent to ₱9.79 billion from ₱9.38 billion a year ago. Operating efficiencies pushed consolidated gross profit up 24.49 percent to ₱3.83 billion, while finance costs dropped 22.38 percent to ₱92.16 million. Income tax expense stood at ₱395.71 million.

Among the group's secondary operating units, real estate and memorial park operations grew 8.14 percent to ₱210.18 million, while pharmaceutical sales generated ₱24.03 million. Dividend and other non-operating income contributed an additional ₱147.49 million to top-line revenues. (Gabriell Christel Galang)