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Puregold Price Club Q4 profit climbs 16.8% YOY

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Puregold Price Club Q4 profit climbs 16.8% YOY

Puregold Price Club Inc. said its fourth-quarter normalized net income amounted to 57 Philippine centavos per share, compared with the S&P Capital IQ consensus estimate of 62 centavos per share.

EPS increased 17.9% year over year from 48 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.57 billion pesos, a gain of 16.8% from 1.35 billion pesos in the year-earlier period.

The normalized profit margin dropped to 5.3% from 5.4% in the year-earlier period.

Total revenue increased 19.8% on an annual basis to 29.84 billion pesos from 24.90 billion pesos, and total operating expenses increased 20.0% year over year to 27.34 billion pesos from 22.78 billion pesos.

Reported net income increased 18.8% on an annual basis to 1.80 billion pesos, or 65 centavos per share, from 1.51 billion pesos, or 54 centavos per share.

For the year, the company's normalized net income totaled 1.60 pesos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.76 pesos.

EPS rose 10.1% from 1.45 pesos in the prior year.

Normalized net income was 4.42 billion pesos, a gain of 10.1% from 4.01 billion pesos in the prior year.

Full-year total revenue increased 14.7% on an annual basis to 97.17 billion pesos from 84.70 billion pesos, and total operating expenses rose 15.1% on an annual basis to 90.02 billion pesos from 78.22 billion pesos.

The company said reported net income grew 10.6% on an annual basis to 5.00 billion pesos, or 1.81 pesos per share, in the full year, from 4.52 billion pesos, or 1.63 pesos per share.

As of April 14, US$1 was equivalent to 46.12 Philippine pesos.