CHEMICALS distributor SBS Philippines Corp. (SBS) realized a net income of P27.4 million in the first quarter, reversing the P20.8-million loss in the similar period a year before, driven by higher sales from its business segments.
“SBS achieved sales growth across all segments particularly the business recovery of the industrial and the feed and veterinary segments from the challenges in 2021,” Necisto Y. Sytengco II, SBS vice-chairperson and senior vice-president for sales and marketing operations, said in a statement on Tuesday.
“Our wide product portfolio, reliable inventory, and efficient supply chain allow SBS to serve our customers’ requirements timely despite the global logistic disruption that affects many of our peers in the market,” he added.
In the first quarter, net sales were up 66% to P288.7 million. Operating profit on a consolidated basis also grew by 90%, driven by increase in sales volume and selling prices.
“This strengthened our position as the preferred one-stop shop supplier of chemical raw materials in the country,” Mr. Sytengco said.
SBS is a chemical trader-distributor with over 3,000 chemical products sourced from more than 500 suppliers. It serves clients from various industries, including food ingredients, industrial, feeds and veterinary care, pharmaceutical, and personal care and cosmetics.
The company owns a network of 15 warehouse facilities located at five different sites in Manila and Bulacan, providing for a combined floor space of about 46,000 square meters and a storage capacity exceeding 18,000 metric tons.
On Tuesday, company shares remained unchanged at P3.93 at the stock exchange. — Luisa Maria Jacinta C. Jocson
