Puregold net income grew 18.9% to P 8.05 billion in FY 2020

PUREGOLD Price Club, Inc. (PGOLD) has reported unaudited consolidated net income of Php 8.05 billion in full year of 2020 which represents an 18.9 percent growth compared to Php 6.77 billion in the same period in 2019. Consolidated Net margin for the period is at 4.8 percent.

Puregold unaudited consolidated net sales increased by 9.2 percent to Php 168.63 billion in 2020. 73 percent of the revenues is attributed from the Puregold Stores network and 27 percent coming from S&R Membership warehouse clubs and S&R New York Style Pizza stores. Unaudited consolidated Income from Operations grew to Php 13.4 billion in 2020, up by 17.3 percent compared to Php 11.4 billion during the same period last year. Puregold stores registered same store sales growth (SSSG) of 2.4 percent in 2020 while S&R registered a SSSG of 8.7 percent during the same period.

“Our company has achieved a recordbreaking 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.” said Mr. Lucio Co, Chairman of Puregold.

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.