April 29, 2013

Puregold net income up 105%

Puregold Priceclub Inc. posted consolidated net sales of P16.09B, or an increase of 49.8% compared to Php10.74B in 1Q12. Growth in consolidated net sales was principally due to the 18.2% growth in sales turnover of the 159 Puregold and Parco stores operating as of the 1Q13.

The 6 S & R warehouse clubs and the 15 Company E stores contributed 16.4% and 1.0%, respectively, of the consolidated net sales of PGOLD in 1Q13. Gross profit dramatically grew by 62.8% to Php2.83B in 1Q13 from Php1.74B in 1Q12.

Gross Margin was at 17.6% versus 16.2% a year ago. Net income grew 105.3% in consolidated net income after tax in 1Q13 from P469 M to P962 M. S&R contributed 36.4% of the net income after tax with a net profit margin of 6% compared to the 4.4% net margin a year ago.