Philippines based personal care direct selling Splash Corp. has started the year strong as it grew its earnings nearly half in the first quarter, coming off a net income plunge in 2014.
Splash said net income in the first three months of the year rose 46% to P49 million from P38 million in the same period last year.
“Thus net income for the first quarter of 2015 had already exceeded the net income for the whole year of 2014 by more than four times,” the homegrown beauty and personal care products maker said.
For full year 2014, the company’s net profit sank 84% to P12 million from P73 million in 2013 due to the absence of a P70 million extraordinary gain from the sale of a non-core asset.
“Without the extraordinary gain in 2013, net income