Puregold Net Income Grew 17.3% to PhP3.99B in 1H 2021

Puregold Price Club, Inc. (PSE: PGOLD) has reported a consolidated net income of PhP3.99 billion in the first half of 2021 which represents a 17.3% growth compared to PhP3.4 billion in the same period in 2020.

Puregold consolidated net sales decreased by 7.1% to PhP76.18 billion in the first half of 2021. 72% of the revenues is attributed from the Puregold Stores network and 28% coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores. Consolidated Income from Operations grew to PhP6.14 billion in 1Q 2021, up by 7.5% compared to PhP5.71 billion during the same period last year due to strategic costs controls.

“Puregold’s innovative digitization approach through our Puregold Mobile app, Puregold Channel, and our e-commerce website will enable us to connect seamlessly with our consumers during this COVID-19 pandemic and at the same time strengthens customer loyalty.” said Mr. Vincent Co, President of Puregold.

As of the end of June 2021, Puregold opened 15 new organic stores out of the planned 30 to 40 new Puregold stores. S&R also plans to open 2 new warehouse clubs in the second half of 2021. Puregold group currently has a total of 484 stores nationwide. These include 418 Puregold stores, 20 S&R membership shopping warehouses, and 46 S&R New York Style QSR.