7-11 store operator profit surges to P54M last year

Philippine Seven Corp., local operator of 7-Eleven convenience stores, reported a P54.83-million 2007 net profit, almost threefold from P20.14-million in 2006. Philippine Seven Corp. President Jose Victor Paterno attributed the profit jump to better sales and lower costs. Total sales rose seven percent to P4.95 billion in 2007 from P4.63 billion in 2006. Cost of merchandise sold in 2007 rose to P3.53 billion, from P3.22 billion in 2006. Retail sales of corporate and franchise-operated 7-Eleven stores in 2007 grew by 12 percent to P5.56 billion from P4.95 billion in 2006. Revenues from franchise contracts climbed to P204.27 million in 2007 from P147.99 million in 2006, with the addition of 40 franchise stores. Average sales for each store per day slightly improved to P52,500 in 2007 from P50,000 in 2006. Philippine Seven Corp. ended 2007 with 311 stores, eight percent more than the 287 stores it had in 2006.

in Daily Tribune by Earl Paolo Jaculbe
May 2, 2008
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