Wilcon Depot Inc. said profit in the first half of the year amounted to P1.86 billion, up 49 percent from P1.24 billion last yera.
Sales reached P15.94 billion, up 18.7 percent from P13.43 billion last year. Same-store sales growth hit 11.8 percent.
“Three new depots were opened during the half, all in Luzon. Sales from depot format stores accounted for 97.5 percent of the total at P15.538 billion and hence driving company-wide results,” the company said.
Home essentials format stores accounted for 1.8 percent and project sales the remaining 0.7 percent.
“We maintained our strategic focus and remained committed to deliver the widest array of home improvement and finishing construction products and consistent excellent customer service despite the continued operating and supply chain challenges,” said Lorraine Belo-Cincochan, Wilcon president.
“We are on track to meet our expansion target of eight new depots for the year. This July, we opened one depot in Ilocos Sur and one Home Essentials in Tagaytay. We will be opening four more depots this second half. With the improving performance of stores in areas that were more frequently disrupted by mobility restrictions last year, we expect our net sales to grow by at least high teens and our comparable sales by high-single digit to low teens for the full year 2022,” she added.
