Upson income up 68% in Jan-sept

Upson International Corp., a retailer of personal computers and information technology products, said its net income for the three quarters of the year rose 68 percent to p400.23 million from the previous year’s p237.38 million.

Upson, which has combined network of more than 200 branches nationwide, with their retail brands octagon, Micro Valley, Gadget King, said it had net sales of p7.03 billion, 10 percent higher than the p6.38 billion in net sales recorded in the same period of 2021.

Higher sales volumes and more efficient operations accounted for the strong growth, the company said.

Upson president and CEO Arlene sy said the retail market was challenged by the significant loss of foot traffic caused by the pandemic. However, the long periods of immobility prompted the market to adapt by implementing various arrangements, which include online learning and work-from-home set-ups.

“Amid an industrywide shortage of supply, Upson still recorded revenue growths of 5.15 percent and 7.66 percent in 2021 and 2020, respectively,” sy said.

To date, Upson carries over 13,000 pc and IT products, some of which are exclusively sold by its stores. over the years, the company has been named top distributor, dealer of the year, retail partner of the year, and top national sales by its long-standing suppliers such as Acer, Asus, Epson, Hp and seagate.

“We are thankful for our loyal customers who continuously patronize our products. I also commend the entire Upson family for their efficient and diligent work, which empowered us to keep growing,” sy said.

“Upson is committed to assist our country towards technology and digitalization. our roll out plan is to add 250 more branches over the next 3 to 5 years. We shall continue to provide authentic, untampered and high-quality pcs and IT products for all Filipinos up to the farthest possible corners of our country.”