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PGOLD 2Q20 Profits Up 24% Analysis by acd1355 is a document available to read on EtoBox.

Puregold reported a 24% increase in 2Q20 net income to PHP1.6 billion, bringing 1H20 income up 20% year-over-year. This was in line with COL estimates and slightly ahead of consensus forecasts. Earnings growth was driven by a 12.8% increase in revenues and operating cost savings from reduced hours and marketing. While same-store sales growth remained elevated at 7.6% in 2Q20, it slowed from 1Q20 as Puregold sales began to normalize from initial panic buying. Maintain BUY rating with forecast growth supporte

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acd1355

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EN