LISTED supermarkets operator Puregold Price Club Inc. booked P3.2 billion in net income for January to September, up 6.5 percent from last year’s comparative P3 billion on expanded sales.
The increase in net income resulted in a consolidated net margin of 4.8 percent for the nine-month period, the company said.
“We are excited about the growth prospects for Puregold in 2015. During the first nine months of 2015, we have opened 16 Puregold Stores, 7 S&R QSR stores, 11 Lawson Stores and have acquired the 9-store NE Bodega supermarket and 8-store Budgetlane Supermarket,” Puregold President Ferdinand Vincent P. Co said in a statement.
“Puregold only same-store sales growth of 3.6 percent for the first nine months 2015 is tracking better than our expectations,” he added.
In a disclosure to the Philippine Stock Exchange on Friday, the company said consolidated net sales rose 12.6 percent to P67.33 billion in the first nine months. This is on track with its 2015 target of growing consolidated net sales by 12 percent to 15 percent.
The increase is on the back of strong consumer demand from its existing Puregold, S&R stores and S&R New York Style Pizza stores as well as new stores opened during the year.
Income from operations in January to September also grew by 6.6 percent to P4.58 billion from P4.29 billion a year ago.
To date, the company operates 267 stores nationwide comprised of 245 Puregold stores, nine S&R stores, and 13 S&R New York Style quick service restaurants (QSR). This store count still excludes the 17 stores of NE Bodega and Budgetlane Supermarkets acquired this year.
The firm has programmed a 2015 capital expenditure of P3.4 billion. The company plans to spend P18.5 billion in 2015 to 2019 to increase store network by 50 percent in five years.
Established in 1998, Puregold primarily operates hypermarkets and retail stores. Its portfolio includes hypermarket format Puregold Price Club, supermarket Puregold Junior, discounters format Puregold Extra, and high-end membership shopping S&R.