Wilcon sets P2-B capex for 2018

By Leslie Gatpolintan

March 14, 2018, 9:40 pm

MANILA -- Home improvement and construction supplier Wilcon Depot Inc. has earmarked a PHP2-billion capital expenditure this year as it aims for higher revenue growth of 14 to 16 percent amid the rollout of more infrastructure projects in the country.

Wilcon Investor Relations Officer Mary Jean Alger said the amount will be used to add 11 new stores and for renovation, riding on buoyant consumer spending.

“We expect a higher growth this year. We expect the five stores that we opened last year to have ramped up at least midway already. We are opening 11 stores -- nine big ones and two small format stores. And we are doing a lot of marketing efforts to boost our same-store sales growth,” she said in an interview on the sidelines of the launch of its win-a-ride promo.

The company’s sales rose by 11.1 percent for the nine-month period last year.

Wilcon targets to reach 65 stores by 2020 from the total 41 operating stores nationwide.

Alger is also banking on the government’s infrastructure program benefiting the construction business.

“If there is an infrastructure development in an area, you would expect industrial, commercial development and pretty soon enough, residential. And that’s where we come in,” she added.

Wilcon senior executive vice president and chief operating officer Rosemarie Ong is optimistic the infrastructure program can boost the economy and consumer spending.

“You know that home building, home improvement, renovation is very basic. It’s everybody’s priority. If the government builds more infrastructure, the economy will definitely improve and progress. There is going to be lots of opportunities for Wilcon,” she said. (PNA)