Supermarket chain operator Puregold Price Club Inc. said Monday net income climbed 17.3 percent in the first half to P3.99 billion from P3.4 billion in the same period last year on higher sales.
Puregold said in a statement first-half consolidated net sales rose 7.1 percent year-on-year to P76.18 billion.
“Puregold’s innovative digitization approach through our Puregold Mobile app, Puregold Channel, and our e-commerce website will enable us to connect seamlessly with our consumers during this COVID-19 pandemic and at the same time strengthens customer loyalty,” said Puregold president Vincent Co said.
The company said at least 72 percent of the total revenues came from Puregold Stores network and the remaining 28 percent from S&R Membership warehouse clubs and S&R New York Style Pizza stores.
Consolidated income from operations grew 7.5 percent to P6.14 billion from P5.71 billion a year ago, on strategic cost controls.
The grocery chain opened 15 new Puregold stores in the first half and plans to add 30 to 40 stores in the second half. It also seeks to open two S&R warehouse clubs.
Puregold group now has 484 stores nationwide, moving closer to its goal of 500 stores nationwide. These include 418 Puregold stores, 20 S&R membership shopping warehouse, and 46 S&R New York Style QSR outlets.
The company earmarked P4.1 billion to P4.7 billion for capital expenditures this year. About half of this year’s budget will be allocated for the new stores.
Puregold launched the Puregold Mobile App in 2020 as consumers mobility was hindered by the pandemic. The app allows shoppers and members to purchase goods conveniently via smart phones. There are 780,000 subscribers of the app.
The share price of Puregold went down by 1.7 percent Monday to close at P39.70.
