Wilcon Depot Inc., the country’s leading home and finishing construction supply retailer, said Thursday net income jumped 84 percent in the first quarter to P604 million on the back of a double digit growth in revenues.
Wilcon said in a disclosure to the stock exchange net sales climbed 19.4 percent in the first three months to P6.67 billion.
The company attributed the increase in sales to higher transaction count particularly of stores in Luzon.
All branches remained open despite the re-imposition of the enhanced community quarantine in Metro Manila and nearby provinces starting from the last week of March.
The company also opened two new depots, one in Metro Manila and the other in the Visayas.
“We’re happy with our first-quarter results and that we were able to achieve this despite the challenges brought about by the recent spike in Covid-19 cases and the reimposition of the ECQ in Metro Manila and nearby provinces,” said Wilcon president and chief executive Lorraine Belo-Cincochan.
