Wilcon Depot increases capex

While earnings are seen to be flat this year, the Philippines’ leading home improvement and finishing construction supplies retailer, Wilcon Depot, Inc., is increasing its capital expenditure budget by 45 percent to P3.2 billion from P2.2 billion last year.

- By JAMES A. LOYOLA

In an online media briefing, Wilcon Vice President for Investor Relations Jean Alger stated that the bulk of this year’s capital expenditure (capex) will be allocated for new stores and warehouses, as the firm continues to expand nationwide in anticipation of a recovery in sales.

Wilcon President and CEO Lorraine Belo-Cincochan said they are planning to open a total of eight stores this year, even though the home improvement market still has to recover.

The balance of the capex will be spent on store and transportation equipment (P327 million), renovations and repairs (P 568 million), and its IT infrastructure (P137 million).