Puregold profit up 46 pct in 2013

ABS-CBN News

Posted at Mar 26 2014 02:55 PM | Updated as of Mar 26 2014 10:55 PM

MANILA, Philippines – Puregold Price Club Inc. on Wednesday said its earnings in 2013 surged by 46% as it continued its network expansion and acquisitions.

In a disclosure to the stock exchange, Puregold said profits hit P3.96 billion, an increase of 46% from the P2.72 billion it posted the previous year.

Its consolidate net sales also jumped 27% to P73 billion in 2013 from the P57.47 billion it posted in 2012.

The increase in sales was driven mainly by the opening of 14 new Puregold stores last year, 2 new S & R outlets and the acquisition of 15 Company E stores.

Company E, the firm that used to operate retail chains such as Eunilaine and Grocer E, was acquired by Lucio Co’s firm for P300 million.

The supermarket operator currently has 213 stores in operation.