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Puregold 2016 profit up 10.5%

/ 12:42 AM April 07, 2017

Puregold Price Club Inc. reported a consolidated net income of P5.53 billion last year, marking a 10.5-percent growth from year-ago level, on higher sales across its growing store network.

For every peso of goods sold by Puregold, the company earned 4.9 centavos in net profit last year.

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“Our 2016 same store sales growth of 6.2 percent for Puregold stores and 4.4 percent for S&R stores were driven by continued strong consumer demand even after the elections. For 2017, we will build another 25 Puregold stores and two S&R Membership Warehouse,” Puregold president Vincent Co said in a disclosure to the Philippine Stock Exchange.

Same store sales growth excludes the impact of newly opened stores to allow a more accurate comparison from the previous year.

Puregold’s consolidated net sales rose by 15.9 percent to P112.6 last year, attributed to the strong consumer demand from its existing Puregold, S&R stores and S&R New York Style Pizza stores as well as the 26 newly opened stores of Puregold and two S&R Membership warehouse.

Income from operations grew by 13.3 percent to P8.1 billion last year.
Puregold ended last year with a total of 329 stores nationwide. These included 277 Puregold stores, 12 S&R membership shopping warehouse, 23 S&R New York Style fast-food outlets, nine NE Bodega Supermarkets and eight Budgetlane Supermarkets.
Puregold is currently valued by the market at about P120.4 billion.

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