Puregold’s income up 7% to P 3.9 billion in first nine months
Listed supermarket chain Puregold Price Club, Inc. (PGOLD) has reported a consolidated net income of P3.9 billion in the first nine months of the year, which is 7 percent higher than the P3.64 billion it had in the same period in 2016, on the back of the firm’s much improved retail business.
“Our retail businesses continue to deliver steady growth and we remain optimistic that the positive momentum will be sustained for the remaining months of 2017,” said Puregold President Vincent Co.
“We also registered better than expected same store sales growth (SSSG) of 4.5 percent for Puregold stores and 10.7 percent for S&R stores in the first nine months of 2017 which were driven by the strong consumer demand and the sustained economic growth of the country,” he added.
For the period, the firm’s Consolidated Net margins for the period is at 4.5 percent.
Puregold consolidated net sales also increased by 11.2 percent to P87.6 billion in the first nine months of 2017 due to the continued strong consumer demand from its existing Puregold, S&R Membership warehouse clubs and S&R New York Style Pizza stores.
The firm’s income from operations likewise improved to P5.65 billion, up by 7.4 percent compared to the P5.26 billion it registered during the same period last year.