MerryMart Consumer Corp. said profit for the first quarter of the year reached P8.35 million, up 50.5percent from P5.55 million last year.
Revenues amounted to P794.91 million, up 39.79 percent from P568.65 million in 2019.
MerryMart opened four new branches for the period, namely MerryMart Grocery — Calamba, MerryMart Store — Ayala Malls Manila Bay, MerryMart Grocery – Mayombo and MerryMart Grocery — Sorsogon.
MerryMart now has a total of seven operational branches and anticipates to open an additional 18 new branches before the end of the year bringing its total targeted branch network to 25 by the end of 2020, said Edgar Sia II, MerryMart chairman.
MerryMart aims to launch its online delivery by this quarter and offer 3,000 essential items on its own platform.
Sia said about 1,600 essential products from MerryMart are available on the FoodPanda delivery app covering proximate area from the store.
