Lucio Co-led grocery retail leader Puregold Price Club Inc. on Thursday reported net income for the first half rising 11 percent to P5.87 billion, from P5.29 billion in the same period last year.
The company traced the strong earnings to solid revenue growth and better gross margins supported by steady cooperation from suppliers.
Total sales reached P121.48 billion, up nearly 11 percent from P109.87 billion a year earlier. Gross operating income stood at P25.63 billion, representing a gross operating margin of 21.1 percent. Operating expenses climbed 11 percent to P16.74 billion from P14.98 billion.
As of end-June, Puregold ran 794 stores nationwide: 688 Puregold supermarkets, 33 S&R Membership Shopping warehouses, and 73 S&R New York Style Pizza outlets.
