Manila—(PHStocks)—Puregold Price Club Inc. (PSE: PGOLD) has reported a consolidated net income of PhP3.65 billion in the first nine months of 2016 which represents a 14% growth compared to PhP3.2 billion in the same period in 2015. Consolidated Net margins in the first nine months of 2016 is at 4.6%.
“Our nine month same store sales growth (SSSG) of 6.6% for Puregold stores and 1.4% for S&R stores were driven by strong consumer demand even after the elections. We hope that this level of momentum in SSSG can be sustained for the remainder of the year,” said Puregold President Vincent Co.
Puregold consolidated net sales increased by 16.9% to PhP78.74 billion in the first nine months of 2016 due to the strong consumer demand from its existing Puregold, S&R stores and S&R New York Style Pizza stores as well as the newly opened stores. Income from Operations grew to PhP5.26 billion in the first nine months of 2016, up by 15% compared to PhP4.58 billion during the same period last year.
As of end September 2016, Puregold group has a total of 317 stores nationwide. These include 268 Puregold stores, 11 S&R membership shopping warehouse, and 21 S&R New York Style QSR, 9 NE Bodega Supermarkets and 8 Budgetlane Supermarkets.