Puregold net income grows 18.9% to P 8.05B

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PUREGOLD Price Club Inc. has reported unaudited consolidated net income of P8.05 billion in full year 2020, which represents an 18.9 percent growth compared to P6.77 billion in the same period in 2019.

Consolidated net margin for the period is at 4.8 percent.

The company’s unaudited consolidated net sales increased by 9.2 percent to P168.63 billion in 2020, of which 73 percent of the revenues is attributed to the Puregold Stores network and 27 percent to S&R Membership warehouse clubs and S&R New York Style Pizza stores. Its unaudited consolidated income from operations grew to P13.4 billion in 2020, up by 17.3 percent compared to P11.4 billion during the same period last year.

Puregold stores registered same store sales growth of 2.4 percent in 2020 while S&R registered SSSG of 8.7 percent during the same period. As of end December 2020, Puregold group had a total of 469 stores nationwide. (PR)