Puregold Price Club Inc., a listed operator of various retail and wholesale formats, reported a 21 percent increase in consolidated net income to P10.4 billion in 2024, up from P8.6 billion in 2023, driven by strong revenue growth and improved gross margins at its S&R Warehouse business.
The country’s grocery retail leader saw consolidated revenues rise by 10 percent year-on-year to P219.17 billion from Php 199 billion in the previous year. This growth was fueled by higher store traffic and larger basket sizes, resulting in positive same store sales growth (SSSG) of 4.5 percent for Puregold stores and 6.4 percent for S&R Warehouse clubs.
Reflecting its solid financial performance, Puregold’s Board of Directors approved a regular dividend of P1.09 per share (30 percent payout), amounting to P3.13 billion, to shareholders of record as of April 30, 2025.
The company also declared a 20 percent special dividend equivalent to P0.72 per share—or P2.08 billion—will be distributed to shareholders of record as of September 2, 2025. Combined, the total dividend payout stands at P5.21 billion, representing a 7.1 percent yield, to be sourced from unrestricted retained earnings as of December 31, 2024.
“Our record-breaking earnings underscore the resilience and sustained profitability of our core business, even amid challenging market conditions,” said Puregold President Ferdinand Vincent Co. “Looking ahead to 2025, we are aggressively expanding in key provincial markets to fuel growth and improve accessibility.”
Puregold opened 26 new Puregold stores, four S&R Membership Shopping Warehouses, and eight S&R New York Style QSRs in 2024. The company now operates a total of 602 outlets nationwide, comprising 511 Puregold stores, 29 S&R warehouses, and 62 S&R QSRs.
