Wil­con De­pot re­mains on top amid pan­demic

Daily Tribune (Philippines) - - BUSINESS - BY VERNON VE­LASCO

Amid the pan­demic, Wil­con De­pot re­mained on top in mar­ket­ing qual­ity con­struc­tion and home im­prove­ment sup­plies.

Still, Wil­con main­tained its pri­mary po­si­tion in its spe­cial­ized mar­ket as it con­tin­ued to in­vest for ex­pand­ing its mar­ket­ing net­work, of­fer­ing qual­ity and pre­ci­sion-made con­struc­tion sup­plies to its niche mar­ket.

This, de­spite the com­pany dis­closed in its first half of 2020 re­port that due to the im­pact of the quar­an­tine mea­sures on Wil­con’s op­er­a­tions, 44 of its branches tem­po­rar­ily stopped op­er­a­tions for two months.

Fol­low­ing the eas­ing of quar­an­tine restrictio­ns, Wil­con was able to re­sume op­er­a­tions, strictly ad­her­ing to health pro­to­cols is­sued by the gov­ern­ment.

Wil­con also com­pleted the con­struc­tion of ad­di­tional ware­house build­ings in its ex­ist­ing main dis­tri­bu­tion cen­ter.

Wil­con then adopted strict health and safety mea­sures for its clien­tele and em­ploy­ees in all its out­lets.

In 2019, Wil­con showed a con­sis­tently strong per­for­mance, with net sales reach­ing P24.5 bil­lion, up 16.3 per­cent year-on-year, with net in­come in­creas­ing by 15.8 per­cent to P2.1 bil­lion.

Fol­low­ing this de­vel­op­ment, the com­pany de­clared div­i­dends of P0.18 per share, which was dis­trib­uted on 16 April, dur­ing the ef­fec­tiv­ity of en­hanced com­mu­nity quar­an­tine.

The com­pany’s cap­i­tal ex­pen­di­ture reached P2.6 bil­lion in 2019, in­vest­ing in six new de­pots, ren­o­va­tions and ex­ten­sions of ex­ist­ing stores, new ware­house fa­cil­i­ties and new soft­ware.

The com­pany re­mains com­mit­ted to its goal of es­tab­lish­ing 100 stores by 2025 de­spite the dis­rup­tion caused by the pan­demic.

“For 2019, we added six new de­pots to our store net­work. We closed the year with 57 branches, 50 de­pots and seven Home Es­sen­tials. Aside from open­ing new stores, we have also ex­panded and ren­o­vated six ex­ist­ing branches to bet­ter serve our grow­ing num­ber of cus­tomers in those ar­eas,” Wil­con di­rec­tor, pres­i­dent and CEO Lor­raine Belo-Cin­cochan said.

In sup­port of its ex­pand­ing store net­work and in­creased rev­enue con­tri­bu­tion of its ex­clu­sively dis­trib­uted prod­ucts, Wil­con also com­pleted the con­struc­tion of ad­di­tional ware­house build­ings in its ex­ist­ing main dis­tri­bu­tion cen­ter.

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