Puregold 9-month profit up 67%

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Supermarket chain Puregold Price Club Inc. saw its profit rise by two thirds in the first nine months of the year. INQUIRER FILE PHOTO

MANILA, Philippines—Supermarket chain Puregold Price Club Inc. saw its profit rise by two thirds in the first nine months of the year, following the rapid expansion of its business around the country.

 

The company said that for the quarter ending September 30, total net sales reached P39.14 billion, an increase of 45.2 percent from year-ago level. This drove profit up to P1.8 billion in the nine-month period, up 67.2 percent year on year.

 

This translated to a 4.6-percent net profit margin as of the end of September, up from 4 percent in the previous year.

 

“(This) was largely due to increased sales turnover arising from the full nine-month operations of the 38 Puregold stores that were opened in 2011,” the company said.

 

These new stores, it said, contributed 48.8 percent of the total increase in net sales for the covered period.

 

In June 2012, the listed firm acquired six S&R warehouse clubs and 19 Parco supermarkets. These acquisitions contributed 35.3 percent of the total increase in the company’s net sales.

 

Puregold, owned by businessman Lucio Co, earlier said it expected net sales to grow by 50 percent by the end of the year, while net profit margins would average at 4.5 percent. In the company’s forecasts, which were based on a revised 2012 financial results guidance, Puregold is expected to post a net profit of P2.63 billion this year, or 71 percent higher year on year.

 

This would be achieved through the establishment of 31 new stores.

 

In the first nine months of 2012, the company opened 20 new Puregold stores consisting of 10 “hypermarkets,” eight supermarkets and two extras. Another hypermarket and another supermarket were opened in October, bringing the group’s total store count to 122 Puregold stores in operation.—Paolo G. Montecillo

 

 

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  • investor888

    With its revenue & income continuing to grow at 45.2% & 67.2% respectively , Puregold continues to exhibit a strong performance after an aggressive expansion undertakings.  The new stores & acquisitions have contributed immensely on the growth with the profit margin up to boot. Definitely, the growth will continue as the acquisition took place only last June 2012 of the S&R warehouses, as well as, the Parco stores.  Their plans is to set-up another 25 stores next year as per disclosure in their first half results of operation.  This is the main reason on why the company remains to be a good investment issue.  It has replaced Uniwide in the Deparment Store business after it bungled its entry into the real estate business at the wrong time during the financial crisis of 1997.

  • http://mikkieugenio.tumblr.com/ Paul Eugenio

    Kailangan talaga yung sumabog na Puregold store ang picture?

  • jon_wainwright

    malaki talaga kita pag smuggled ang binebenta

    • straightalks

      At marami ding kumita. Hehe.

  • http://pulse.yahoo.com/_4R3GZTGML26TV2VGS6RVHP2THM Fred

    Puregold, yung frozen meat ninyo 
    iba amoy.  Amoy may kemikal yata?
    Dumaan kaya ito sa National Meat Inspection Board?

    • straightalks

      Wag ka dito magreklamo Fred. Di naman to Puregold. Inquirer to nagrereport about Puregold.

  • http://www.facebook.com/oustcorona ILL_HIT_YOUR_FACE

    Hmmm…. planning to go public?

    • straightalks

      Listed na sila sa PSE.

      • http://www.facebook.com/oustcorona ILL_HIT_YOUR_FACE

        OH! Thanks for the clarification, never visited the market since last year…

        But anyways… still not buying it… lol

      • straightalks

        It’s doing OK in the market.

      • http://www.facebook.com/oustcorona ILL_HIT_YOUR_FACE

        Exactly, and its getting expensive.

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