Wilcon Depot, Inc. (WDI), the Philippines’ leading home improvement and finishing construction supplies retailer today reported its fourth quarter and full year 2022 operating and financial results.

“Wilcon delivered a strong fourth quarter performance to cap off a record year for us. We generated P888 million in net income for the quarter, a growth of 28.3% year-on-year, which brought our full year net income to P3.848 billion, up 50.2% over our 2021 net income”, said Ms. Lorraine BeloCincochan, Wilcon’s President and CEO.

“Our net sales grew 22.0% year-on-year, mainly driven by the turnaround of our older stores with our comparable sales growth hitting 14.2% for 2022. There was marked increase in private construction activities toward the end of the first quarter up to the end of the year despite strong inflationary pressures. Our results also reflected our resilience and adaptability in coping with the myriad challenges of operating in a pandemic-disrupted environment. We seized the country’s overall economic recovery with our timely investments in inventory, our people and in process improvements. This enabled us to continuously serve the requirements of our customers and provide them with our usual excellent customer experience”, added Ms. Belo-Cincochan.

Ms. Belo-Cincochan also announced that the Company’s board of directors in their meeting on February 22, 2023, approved the distribution of cash dividends amounting to P1.517 billion, equivalent to P0.37/share, consisting of P0.23/share regular and P0.14/share special dividends.