Puregold FY 2024 Net Income Jump 21.3% to P10.4 Billion

Grocery retail leader Puregold Price Club, Inc. (PGOLD) grew consolidated revenues to P219.17 billion for 2024, up 10.1% growth from P199 billion in 2023. For the full year 2024, the enterprise experienced positive same store sales growth (SSSG) of +4.5% from Puregold Stores and +6.4% from S&R Warehouse clubs driven by higher traffic and basket size.

PGOLD consolidated net income for 2024 grew by 21.3% year on year to P10.4 billion from P8.6 billion in 2023 driven by strong topline growth and complemented by the improvement in gross margins for the S&R business.

The board of PGOLD has approved a 30% regular dividend payout, equating to P1.09 per share, which amounts to a total of P3.13 billion. This regular dividend will be distributed to shareholders of record as of April 30, 2025. In addition to the regular dividend, the Board has also approved a 20% special dividend payout, amounting to P0.72 per share, for a total of P2.08 billion. This special dividend will be distributed to shareholders of record as of September 2, 2025. Together, the total dividend payout—comprising both the regular and special dividends—will amount to P5.21 billion, reflecting a dividend yield of 7.1%. These payouts will be sourced from PGOLD’s unrestricted retained earnings as of December 31, 2024.

“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. As we look to 2025, we are implementing an aggressive store expansion strategy, prioritizing key provincial markets. This strategic initiative is designed to drive continued growth, expand our market footprint, and enhance customer shopping satisfaction, convenience, and accessibility, ultimately positioning us for long-term value creation.” said Puregold Price Club Inc. President Ferdinand Vincent Co.

As of end December 2024, PGOLD opened 26 new Puregold stores, 4 S&R Membership Shopping Warehouse and 8 S&R New York Style QSR. PGOLD operates a total of 602 stores nationwide comprising 511 Puregold stores, 29 S&R Membership Shopping Warehouses, and 62 S&R New York Style QSRs.