Wilcon says prices up 2-3 percent due to weak peso | ABS-CBN
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Wilcon says prices up 2-3 percent due to weak peso
Wilcon says prices up 2-3 percent due to weak peso
ABS-CBN News
Published Jun 18, 2018 03:53 PM PHT
MANILA -- Construction materials retailer Wilcon said Monday it raised prices by 2 to 3 percent due to the peso's weakness.
MANILA -- Construction materials retailer Wilcon said Monday it raised prices by 2 to 3 percent due to the peso's weakness.
The company, however, is sticking to its importation plans as the market is still growing "very well" with lower personal income tax rates boosting consumer spending, said Wilcon chairman emeritus William Bello.
The company, however, is sticking to its importation plans as the market is still growing "very well" with lower personal income tax rates boosting consumer spending, said Wilcon chairman emeritus William Bello.
The peso has hovered at the 53 level against the dollar, its lowest level in 12 years, as the growth in imports outpaced exports.
The peso has hovered at the 53 level against the dollar, its lowest level in 12 years, as the growth in imports outpaced exports.
"Market is growing very well. We have increased our buying, new product lines. We won’t stop we won’t change," Bello said.
"Market is growing very well. We have increased our buying, new product lines. We won’t stop we won’t change," Bello said.
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The company is holding on to imports for 6 to 7 months to help manage the cost of the peso's weakness, he said.
The company is holding on to imports for 6 to 7 months to help manage the cost of the peso's weakness, he said.
$WLCON to open 24 new depots within 4 years from 2018. (41 stores open as of December 2017) Hoping for government’s “timely and proper management of rising inflation” and “continued implementation of the succeeding tax reform packages” @ANCALERTS @ABSCBNNews pic.twitter.com/BRcBdoLKGK
— Warren de Guzman (@wddeguzman) June 18, 2018
$WLCON to open 24 new depots within 4 years from 2018. (41 stores open as of December 2017) Hoping for government’s “timely and proper management of rising inflation” and “continued implementation of the succeeding tax reform packages” @ANCALERTS @ABSCBNNews pic.twitter.com/BRcBdoLKGK
— Warren de Guzman (@wddeguzman) June 18, 2018
-- report from Warren de Guzman, ABS-CBN News
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