Puregold reports 5.4% increase in H1 profit

Tycoon Lucio Co-led grocery chain operator Puregold Price Club Inc. booked P4.2 billion in first semester net profit, up by 5.4 percent from the level in the same period last year, as improved consumer confidence translated to higher store sales. Consolidated net sales increased by 7.9 percent to P82.2 billion during the six-month period, particularly buoyed by improved activities in the second quarter with the easing of quarantine protocols, Puregold disclosed to the Philippine Stock Exchange on Tuesday. Total traffic to all stores increased by 10 percent versus the same period last year. With increased shopper confidence, the enterprise experienced positive same store sales growth (SSSG) of 0.6 percent for Puregold stores and 3.8 percent for membership shopping chain S&R Warehouse Clubs.