In its latest filing, 7-Eleven Philippines garnered a net income of up to P290 million in April compared to its P243.6M income in June revenue this year; a growth of 22.0 percent compared to last year’s income.
7 Eleven operators in the country said that the company continued to benefit from election-related spendings nationwide, which contributes to its annual 19 percent net income growth per year. The increase number of commodity sales from their operating stores nationwide also rose by more than 23 percent. Moreover, revenues from their stores also went up by mid-single digit.
Philippine Seven Corporation stated that the number one factor of their improved financial performance was the spendings done during the election period. It is a profit boost that started from the first quarter until the second quarter of the year.
7 Eleven opened almost a hundred and fifty stores before the month of June. The company is currently operating 1,740 stores nationwide, 1,474 of which are in Luzon, 203 are in Visayas, while 63 are in Mindanao.
The company reserved P3.5B in capital this year to open more stores, renovate the existing ones and to purchase new store equipments.
