Philippines: The home center’s substantial net gain was augmented by 50% in 2022, a result of the augmentation of private construction operations.

Wilcon Depot, the nation’s largest construction material home improvement store, reported its 2022 financial results, revealing net profit of 3.85 billion pesos, up 50.2% from 2021, as many private construction projects resumed last year. “Despite high inflation, there was a significant increase in private construction projects from the end of the first quarter of last year to the end of the year,” said Lorraine Shinkochan, president and CEO of the company. He explained that sales such as were strong throughout the year. The company opened 10 new stores last year with net sales of P6.06 billion, up 22% year-on-year. (3 days, star)