BY ANGPING & ASSOCIATES SECURITIES
SSI Group, Inc. posted a net income growth of 63.0% to PHP 998.7 million, attributed to the 126 new stores, as well as the 2.6% better-than-expected growth of same store sales.
Revenues last year increased nearly a fifth to PHP 15.2 billion, with revenues in the fourth quarter alone reaching PHP 5.2 billion.
At the end of 2014, SSI said the company had 106 brands in its portfolio and was operating 723 specialty stores covering 134,000 square meters of retail space, as well as 90 FamilyMart convenience stores.
The company earmarked PHP 2.0 billion for CAPEX in 2015.
Most of the budget will be used for 18,000 to 21,000 sqm. store expansion , while the balance of 200.0 million to 300.0 million will be used for new warehouses and equipments.