Wilcon Depot set to surpass proft growth target
Home improvement and construction supplier Wilcon Depot Inc. is looking to exceed its mid-teens net income growth target this year despite the expected continuing inflationary cost pressures.
Mark Andrew Belo, CFO at Wilcon, said the company expects to sustain its healthy sales growth with the opening of more stores in the fourth quarter.
“We also expect to meet our store opening target for the year of nine depots with a bonus of two home essentials. We?ve opened six depots so far and will open the last three before the end of the year,? he said.
Wilcon reported a 24.3 percent jump in its nine month profit to ?1.39 billion as net sales expanded by 18 percent to ?15.36 billion.
Three depot-format stores were opened in Luzon, one each in the Visayas and Mindanao while one stand-alone home essentials store was opened in Metro Manila and one mall-based store in the Visayas.
The company will end the year with a total of 51 stores.