MANILA, July 23 (PNA) — Concepcion Building and Industrial Solutions (BIS) posted a 49 percent year-on-year growth in unaudited sales in the first half of 2015 and its officials are optimistic of sustained growth through the rest of the year.
In a briefing Thursday, Concepcion BIS Group Director Rajan Komarasu said they are confident of hitting their target but declined to give figures.
He said they have secured about Php1.8 billion worth of projects to date but have quoted or assessed projects amounting to Php6.2 billion.
In 2014, the commercial arm of air conditioning and refrigeration system leader Concepcion Industrial Corporation (CIC) registered Php2 billion worth of sales.
Komarasu attributed this to their tie-up with Otis in March last year and large orders for air conditining projects.
He explained that the continued growth of the domestic economy comes with strong demand for buildings, which Concepcion BIS wants to take advantage of since the company provides end-to-end building solutions like heating, ventilation, and air conditioning (HVAC), escalators and elevators.
Citing government data, Komarasu said building permit issuance posted an annual growth of 36 percent in 2014.
He explained that unlike in the past wherein Concepcion BIS is the one going to clients to assess building solutions cost times have changed since this situation has been reversed.
He also disclosed that they are also accessing areas outside the National Capital Region (NCR) since these have become additional drivers for the company’s sales.
“There’s a huge potential out there that’s why there is a need to beef up our presence in the region,” he added. (PNA)