Wilcon ramps up expansion with P4.6-B investment

(Davaoarchitect.com image)

MANILA -- House improvement and building supply merchant Wilcon Depot Inc. is investing PHP4.6 billion over the next three years to ramp up the growth of its network across the country in assistance of its ongoing development amid a robust economy and federal government's facilities push.Wilcon Depot

Chairman Emeritus William Belo stated the company is including 6 more shops this year and 15 until 2020 to its existing 44 stores.Belo stated the

typical financial investment in each store has to do with PHP250 million, including operating capital.

"As an entire, the marketplace is truly moving really, effectively. And all these locations we are going into are basically new for us so certainly, we see an extremely good market for us given that we will be beginning with absolutely no there," he informed press reporters after the business's shareholders' conference on Monday.

"The economy is actually moving up rather great so we will capitalize on that and likewise (to) stay ahead of competitors," he added.Belo said the business published significant growth in the first quarter of the year in the wake of the "Construct, Develop, Develop" infrastructure program of the government.He kept in mind that the peso's devaluation does not considerably impact the organisation."The majority of our imports we hold on to around six to seven months of stock so the increase are gradually done. As you can see the cost boost that we have actually been doing for the year, it hasn't really increased substantially. That's the charm of having more inventories,"he added.The company booked a 4.7-percent increase in bottom line to PHP409 million

in January to March this year on the back of greater sales.