Splash lowers 2015 capex
MANILA, Philippines - Personal care products manufacturer Splash Corp.is earmarking a lower amount for its capital spending next year.
Splash said in a disclosure Friday that its board approved the company’s 2015 capital expenditure budget amounting to P69.19 million.
The amount is lower than the P87.57-million capex programmed for this year.
The homegrown beauty and personal care products manufacturer, however, did not disclose details as to where the P69.19 million would be spent for next year.
The listed firm was able to make a splash in the first nine months of the year as it increased its profits by nearly twice from last year.
Its net income surged 80 percent to P40.9 million for the first three quarters of the year from P22.7 million during the same period last year on the back of robust revenues from its foods business.
Splash is the company behind flagship brands SkinWhite and Maxi-Peel.
- Latest
- Trending
