Puregold 1H 2015 Net Income Jumps 21% to PhP2B

Manila—(PHStocks)—Puregold Price Club Inc. (PSE: PGOLD) has reported a consolidated net income of PhP2 billion for the first half of 2015, up by 21.1% from the same period last year.

Net margins for the first half of the year is currently at 4.7%, which is slightly better compared to the 4.3% in the same period last year.

“We are excited about the growth prospects for Puregold in 2015. During the first semester, we have opened 10 Puregold stores, 4 S&R QSR stores, 4 Lawson stores, and have acquired the 9 store NE Bodega supermarket. Puregold only same store sales growth of 3.6% for the first half 2015 is better than our expectations,” said President Vincent Co.

Puregold consolidated net sales increased by 11.9% to PhP43.14 billion for the first half of 2015 due to the strong consumer demand from its existing 233 Puregold stores, 9 S&R Membership stores, and 6 S&R New York Style Pizza stores as well as new stores opened during the year. Income from operations grew to PhP2.86 billion in 1H 2015, up by 20.9% from the same period last year.

As of end-1H 2015, Puregold has 258 stores nationwide, including 9 S&R stores and 10 S&R New York Style QSR.