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Bad weather pulls down Wilcon earnings
The Philippine Star
|October 29, 2024
A slowdown in sales dragged down earnings of home improvement and construction supplies retailer Wilcon Depot Inc. in the nine months ending September.
Wilcon reported a 22.3-percent drop in net income to P2.1 billion during the nine-month period as sales declined by one percent year-on-year to P25.7 billion.
Wilcon president and CEO Lorraine Belo-Cincochan said that the company saw persisting softness of the demand for major home improvement and finishing construction supply through the third quarter.
She said that the incessant rains and bad weather also did not help, which historically tends to postpone or delay construction projects.
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