Puregold net income grew 18.9% to P8.05 billion in FY 2020

MANILA, Philippines — Puregold Price Club Inc. (PGOLD) has reported unaudited consolidated net income of P8.05 billion in full year of 2020, which represents an 18.9% growth compared to P6.77 billion in the same period in 2019. Consolidated net margin for the period is at 4.8%.

Puregold unaudited consolidated net sales increased by 9.2% to P168.63 billion in 2020. 73% of the revenues is attributed from the Puregold Stores network and 27% coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores.

Unaudited consolidated Income from operations grew to P13.4 billion in 2020, up by 17.3% compared to P11.4 billion during the same period last year.

Puregold stores registered same store sales growth (SSSG) of 2.4% in 2020 while S&R registered a SSSG of 8.7% during the same period.

“Our company has achieved a record-breaking year in 2020 despite a lot of challenges due to the COVID-19 pandemic. We cannot achieve this without the support and commitment of our suppliers and employees on providing the best product and service to our customers. We are committed to drive sustainable growth in 2021 thru continued store expansions and innovations in grocery retailing,” Lucio Co, chairman of Puregold, said. 

As of end December 2020, Puregold group has a total of 469 stores nationwide. These include 403 Puregold stores, 20 S&R membership shopping warehouse, and 46 S&R New York Style QSR.