Wilcon Depot remains on top amid pandemic
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.