PUREGOLD NET INCOME HITS P 2 BILLION IN 1H 2015 UP 21.2%
Manila, Philippines – Puregold Price Club, Inc. (PGOLD) the second largest grocery retailer in the Philippines has reported a consolidated net income of Php 2 billion for the first half of 2015 which represents a 21.1% growth compared to Php 1.66 billion in the same period in 2014. Net margins for the first half 2015 is currently at 4.7% which is slightly better compared to the 4.3% same period last year.
“We are excited about the growth prospects for Puregold in 2015. During the first semester, we have opened 10 Puregold Stores, 4 S&R QSR Stores, 4 Lawson Stores and have acquired the 9 store NE Bodega supermarket. Puregold only same store sales growth of 3.6% for the first half 2015 is better than our expectations.” said President Vincent Co.
Puregold consolidated net sales increased by 11.9% to Php 43.14 billion for the first half of 2015 due to the strong consumer demand from its existing 233 Puregold stores; 9 S&R Membership stores and 6 S&R New York Style Pizza stores as well as new stores opened during the year. Income from operations grew grew to Php 2.86 billion in first half of 2015, up by 20.9% compared to Php 2.37 billion during the same period last year.
As of end of 1H 2015, Puregold has 258 stores nationwide including 9 S&R stores, and 10 S&R New York Style QSR.
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