Puregold’s 2015 profit grows to P5B
Puregold Price Club Inc. of bilyonaryo Lucio Co. booked a consolidated net income of P5 billion last year, up 10.6 percent from 2014 on the back of strong consumer purchasing power.
In a filing with securities regulators, the second largest grocery retailer in the Philippines said net sales grew 14.7 percent to P97.17 billion due to strong consumer demand from its Puregold, S& R stores and S&R New York Style Pizza stores as well as the newly opened stores.
Income from operations expanded by 10.4 percent to P7.15 billion.
The group had a total of 298 stores nationwide as of the end of December last year — 255 Puregold stores, 10 S&R stores, and 16 S&R New York Style QSR, 17 stores of the newly-acquired NE Bodega and Budgetlane Supermarket.
“Strong consumer demand has driven Puregold only same store sales growth (SSSG) of 3.8 percent in 2015 which is the highest SSSG growth in the last 4 years. We look forward to sustain or achieve higher same store sales growth in 2016 given that the same stores sales growth in the first two months of 2016 has been in the 7 to 8 percent.” said Puregold president Vincent Co.