Wilcon Depot Inc., the country’s leading home and finishing construction supply retailer, said Wednesday first half net income jumped 254 percent to P1.24 billion from P354 million in the same period last year.
Wilcon said in a disclosure to the stock exchange net sales in the first six months climbed 48.5 percent to P13.42 billion on higher transactions.
“We’re pleased that we were able to sustain our first quarter results despite a quite difficult April, which was the height of the NCR plus quarantine,” Wilcon president and chief executive Lorraine Belo-Cincochan said.
The company said second-quarter net income surged to P643 million from P24 million in the same period last year, the period when the government first started to implement strict quarantine measures to stem the spread of COVID-19. Second quarter sales also surged 95.7 percent to P6.751 billion.
The company opened four new stores in the first half to boost store network to 67 branches.
