Splash Corp. declares P134M in dividends

ABS-CBN News

Posted at Jun 23 2008 10:44 AM | Updated as of Jun 23 2008 06:44 PM

Local personal care giant Splash Corporation declared a total of P134 million in cash dividends to be issued to shareholders on record as of July 8, 2008.

In a recent annual stockholders meeting, Splash Corporation president Jessin Soriano reported a 32 percent growth in net income from the previous year, amounting to P271.23 million in 2007.

The increase in net income was attributed to sales growth for beauty and personal care products in 2007, topping P3 billion, up 21 percent over the previous year, with skin care products accounting for close to a third of its net sales. Net operating income showed a 44 percent growth compared to previous year, registering P317 million.

Soriano said the net income growth is attributed to the introduction of 14 new products over the past year, which, contributed 16 percent of total sales, representing 174 percent growth over that of last year.

Meanwhile, the company's Hair Care product line, which counts on the brands Kolours and Vitress, grew by 11 percent while Skin Care with mega brands Skin White, Maxipeel, and Extraderm was steady at close to six percent revenue growth.