Puregold net income up 17.3% to P3.99 billion in H1

MANILA, Philippines — Lucio Co-owned Puregold Price Club Inc. (PGOLD) reported a consolidated net income of P3.99 billion in the first half of the year, up 17.3 percent.

In the same period last year, Puregold reported a net income of P3.4 billion.

However, the company’s sales declined during the period.

Puregold consolidated net sales decreased by 7.1 percent to P76.18 billion in the first half of 2021.

Of the sales, 72 percent came from the Puregold network while 28 percent came from S&R Membership warehouse clubs and S&R New York Style Pizza stores.

Consolidated income from operations grew 7.5 percent to P6.14 billion compared to P5.71 billion due to strategic costs controls.

Puregold president Vincent Co said the company’s digitization approach through Puregold Mobile app, Puregold Channel and our e-commerce website has enabled the company to connect seamlessly with consumers during this COVID-19 pandemic.

The company plans to open 30 to 40 new Puregold stores this year, of which the company has already opened 15 new organic stores.

S&R also plans to open two new warehouse clubs in the second half of 2021.

The Puregold group has 484 stores nationwide. These include 418 Puregold stores, 20 S&R membership shopping warehouses, and 46 S&R New York Style QSR.