Puregold nets P10.4B in 2024

Lister grocery retailer Puregold Price Club Inc. reported record earnings in 2024, following the double-digit growth in its top line driven by higher traffic and basket sizes during the year.

Puregold said its consolidated net income rose by 21.3% to P10.4 billion from P8.6 billion, as consolidated revenues grew 10.1% to P219.17 billion. Same store sales growth was recorded at 4.5% for Puregold stores, and 6.4% for S&R Warehouse clubs.

“Our company has delivered record-breaking earnings, demonstrating resilience and strong performance even in the face of challenging market conditions. This success is a direct result of the sustainable growth and proven profitability of our core business,” Puregold president Ferdinand Vicent Co said in a regulatory filing.

“As we look to 2025, we are implementing an aggressive store expansion strategy, prioritizing key provincial markets,” he added, noting that this is expected to drive continued growth to position the company for long-term value creation.

The company opened 26 new Purgold stores, four S&R Membership Shopping Warehouse, and eight S&R New York Style QSRs in the past year, bringing its total network to 602 stores as of end-2024.

Puregold also on Monday announced a 30% regular dividend payout, equivalent to P3.13 billion or P1.09 per share that will be distributed to shareholders of record as of April 30, 2025. Its board also approved a 20% special dividend payout equivalent to P2.08 billion or P0.72 per share to shareholders of record as of September 2, 2025.

The total dividend payout will amount to P5.21 billion, reflecting a dividend yield of 7.1%, to be sourced from the company’s unrestricted retained earnings as of end-2024.—AOL, GMA Integrated News