Economic pressures weigh on Choppies profits

Thursday, March 17, 2016

Choppies Enterprises’ performance for the six months ended December 31, 2015 was a mixed bag, with a revenue growth amid challenging macroeconomic conditions. The revenue growth did not translate into robust profit growth for the giant retailer as start-up costs, aggressive pricing and promotions strategy in new stores ate into profitability.

The group’s revenue grew by 17 percent to P3.5 billion from P3 billion achieved in the same period in the previous year.

Gross profit was up by 11 percent to P714 million as compared to P644 million while earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up by five percent to P216 million.

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