Beauty products maker Splash Corp. ended 2008 with a net income of P298 million, a 6.6 percent improvement from the year before, it said in a statement Thursday.
 
However, the growth in profits was lower compared to the double-digit rate recorded in 2007 as consumer demand softened due to adverse economic conditions.

Splash's net income in 2007 grew 32 percent to P271.23 million.

Splash said sales in 2008 rose by 5.1 percent to P3.16 billion from P3.01 billion previously.

Its popular brands, Maxipeel and Skin White, both hit billion-peso sales and continued to dominate their markets.

Maxipeel Exfoliant was leading in its category, with an 82 percent market share. Skin White, on the other hand, cornered market shares of 29 percent and 45 percent in the lotion and soap categories, respectively.

As the economic downturn becomes more manifest, Splash continues to bank on its strong brand health as well as cost-effective operations to deliver robust profits this year.