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MANILA, Philippines — Puregold Price Club Inc. grew its net income last year by 46 percent to P3.96 billion as new stores it opened or acquired boosted sales and margins improved despite stiff competition.
The grocery chain led by businessman Lucio Co posted consolidated net sales of P73.18 billion for the year, up by 27 percent. This was attributed to the huge sales turnover of the 150 Puregold and six S&R stores operating as of end-2012 as well as the sales contribution of the new 40 Puregold and two new S&R stores opened in CY 2013 and the 15 Company E stores acquired in the first quarter of last year.
Puregold ended 2013 with a consolidated store count of 213 Puregold and S&R stores in operation.
For 2013, Puregold chalked up a gross profit margin of 17.4 percent from a level of 16.1 percent in 2012. In terms of net profit margin, Puregold logged a 5.4 percent margin, improving from 4.7 percent in 2012.
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