Sunday, January 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Wilcon Depot booked 56% rise in Q2 earnings

Jenniffer B. AustriabyJenniffer B. Austria
July 28, 2022, 7:30 pm
in Business, Corporate
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Wilcon Depot Inc., a leading home improvement and construction supplies retailer, said Thursday second-quarter net income jumped 56.4 percent to P1 billion from the same period last year on the back of strong sales.

Wilcon, in a disclosure to the stock exchange, attributed the strong second-quarter performance to higher volume of business and improved gross profit margin which helped offset the increase in operating expenses.

Net sales grew 22.8 percent to P8.3 billion, on fewer pandemic-related disruptions in the second quarter compared to the same period last year.

Wilcon said the opening of two new stores in the second quarter contributed to higher sales in the period. Wilcon had 76 stores in its network as of end-June.

“We built on our strong first-quarter start and delivered our best quarter net sales and earnings so far this second quarter,” said Wilcon president and chief executive Lorraine Belo-Cincochan.

ADVERTISEMENT

“We maintained our strategic focus and remained committed to delivering the widest array of home improvement and finishing construction products and consistent excellent customer service despite the continued operating and supply chain challenges,” she said.

Operating expenditures, including lease-related interest expenses, grew 14.4 percent year-on-year to P1.96 billion because of inflation and bigger volume of business from both old and new stores.

The strong second-quarter performance boosted Wilcon’s net income in the first half to P1.85 billion, up 49 percent from a year ago. First-half net sales also increased 18.7 percent to P15.9 billion.

Belo-Cincochan said the company was on track to meeting its target of opening eight new stores this year. Wilcon opened one depot in Ilocos Sur and another Home Essentials in Tagaytay in July.

“With the improving performance of stores in areas that were more frequently disrupted by mobility restrictions last year, we expect our net sales to grow by at least high teens and our comparable sales by high-single digit to low teens for the full year 2022,” Belo-Cincochan said.

Tags: Lorraine Belo-Cincochannet incomeWilcon Depot
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

Handicraft exporter creates unique products

byManila Standard
January 28, 2023, 6:40 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Having her own export business is a dream project for Joam Basalo. It took her a decade and a half...

Read more

Business reality show host talks of business pitches in a new book

byManila Standard
January 28, 2023, 6:30 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Learn the tips and hacks for making compelling business pitches and winning big-ticket investors as John Aguilar, serial entrepreneur and...

Read more

Filipinos spent 75,305 hours in using financial apps last year

byManila Standard
January 28, 2023, 6:20 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Over 2 million active users in the Philippines have spent a total of 75,305 hours, or an equivalent of 9...

Read more

SEARCA supports digitizing access to agricultural supply

byManila Standard
January 28, 2023, 6:10 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

To provide farmers better access to supplies for agricultural production, the Southeast Asian Regional Center for Graduate Study and Research...

Read more

Crosta Pizzeria co-owner shares her brand of leadership

byManila Standard
January 28, 2023, 6:00 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

To hold nothing back is to be empowered to take on challenges that will surface as you follow your ultimate...

Read more

BSP ready to further tweak policy to contain inflation

byJulito G. Rada
January 27, 2023, 9:20 pm
0
8
Remittances increased 5.3% to $25.929b in first 10 months

The Bangko Sentral ng Pilipinas reaffirmed its readiness to tweak its monetary policy stance to rein in inflation in the...

Read more

Print Edition

View More

Recent Posts

  • Army Navy supports Club200 Endurance Race
  • Sneakers for Makati : AB4.0
  • DOJ: We won’t yield to ICC
  • PBBM raises 7 priority bills in talk with Congress leaders
  • US Defense chief sets PH trip next week
  • Gov’t eyes link of BI officials to jailed Japanese mob boss
  • Angel wings
  • Low pay keeps guidance counselors from school

Advertisement

Latest News

Gov’t eyes link of BI officials to jailed Japanese mob boss

byManila Standard
January 29, 2023, 1:00 am
0
8
Koreans top list of fugitive aliens captured by BI

The Department of Justice will investigate Immigration officials who may have been in cahoots with a Japanese national in running...

Read more

Angel wings

byManny Palmero
January 29, 2023, 12:53 am
0
8
Bad weather hampers search for Cessna plane

Visitors have fun having souvenir photos taken with huge angel wings at the backdrop at Tambaan Farm in Hilongos Leyte.

Read more

Low pay keeps guidance counselors from school

byManila Standard
January 29, 2023, 12:50 am
0
8
Sexual offense victims urged to sue 7 teachers

The Department of Education on Saturday admitted there is a scarcity of guidance counselors to attend to the psychosocial needs...

Read more

Biker’s haven

byDanny Pata
January 29, 2023, 12:48 am
0
8
Bad weather hampers search for Cessna plane

Bikers can take their routine round and at the same time enjoy the scenic view at the Lakeshore in Taguig...

Read more

Onions at low P170/kilo as imports boost supply

byManila Standard
January 29, 2023, 12:40 am
0
8
Airport mess trigger: Faulty circuit breaker

The prevailing retail prices of onions have dropped to as low as P170 per kilo for the loc white variety...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App