Wilcon profit up 77%

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Wilcon Depot Inc. recorded a 77-percent increase in profit last year to P2.56 billion from P1.48 billion in 2020, attributed to an increase in sales and the expansion of gross profit margin.

Sales reached P27.51 billion, up 21.6 percent from P22.62 billion, largely from stores in Luzon which remained operational despite the prolonged surge of Covid- 19 cases.

“At the outset of the pandemic in March, 2020, Luzon, where 76 percent of Wilcon’s branches were located then, was placed under lockdown, requiring all branches in the region to be closed for two months. The company was able to open 10 stores for the year, nine depots and one smaller format, Home Essentials,” the company said.

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The depot format stores accounted for 97.4 percent of total sales worth P26.792 billion.

The Home Essentials contributed P530 million in sales.

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