SunStar Publishing Inc.
WILCON Depot Inc., a home improvement and finishing construction supplies retailer, booked a net income of P2.726 billion in the first nine months of 2023, down by 7.9 percent or P235 million year-on-year. The drop is mainly due to the increase in operating expenses partly offset by the expansion in gross profit margin rate and increase in total net sales.
Despite this, Lorraine Belo-Cincochan, president and chief executive of Wilcon Depot told the local bourse they are pursuing store network expansion. The company opened seven stores so far with six that opened in the last three quarters of 2023. Belo-Cincochan said they are expecting to finish the year with 10 new stores, barring any major delays in construction. They eye to close 2024 with 100 stores.
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