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Filipinos' bathroom obsession drives Wilcon's P1-B income goal

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Cathy Yang, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/08/03/wilcon-thumb.jpg"/><figcaption>A Wilcon Depot store is shown in this picture from the company&#x27;s Facebook page.</figcaption></figure></div>MANILA - Filipinos visit Wilcon Depot&#x27;s mega-stores almost every month, mostly to buy new bathroom fixtures, boosting the retailer&#x27;s hopes of meeting its P1.2-billion net income goal for this year, its founder said Thursday.Since it listed on the stock exchange in March, Wilcon&#x27;s share price has gained 70 percent, as a robust economy drives demand for construction materials.&quot;The good thing with us, the products that you can really touch and see and these are things that people go for: cement, steel bars,&quot; Wilcon founder and chairman emeritus William Belo told ANC&#x27;s The Boss.Belo said some customers visit their stores monthly &quot;just to look for new products.&quot;&quot;You want to keep your bathroom always looking nice. That&#x27;s one of the reasons why people keep coming (to) buy products,&quot; he said.<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/news/08/03/wilcon-embed.jpg"/><figcaption>Wilcon Depot founder and chairman emeritus William Belo speaks to Cathy Yang for ANC&#x27;s The Boss</figcaption></figure></div>Robust demand helps the company hold off on price increases, he said.&quot;We don’t want to shortchange people. We give them good products at a very reasonable price. I think that&#x27;s why the company is gaining popularity,&quot; he said.The government&#x27;s plan to reduce personal income tax rates by next year is expected to further boost spending on construction materials, he said.The P1.2-billion net income goal for the year is &quot;definitely achievable&quot; after results for the first quarter, a traditionally slow period for sales, exceeded expectations, he said.The weak peso is unlikely to affect Wilcon&#x27;s business as up to 80 percent of its materials are imported from China, he said.

Filipinos visit Wilcon Depot's mega-stores almost every month, mostly to buy new bathroom fixtures, boosting the retailer's hopes of meeting its P1.2-billion net income goal for this year, its founder chairman said Thursday.

Filipinos visit Wilcon Depot's mega-stores almost every month, mostly to buy new bathroom fixtures, boosting the retailer's hopes of meeting its P1.2-billion net income goal for this year, its founder chairman said Thursday.

Filipinos' bathroom obsession drives Wilcon's P1-B income goal

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Filipinos' bathroom obsession drives Wilcon's P1-B income goal

Cathy Yang,

ABS-CBN News

Published Aug 03, 2017 12:57 PM PHT

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Updated Aug 03, 2017 01:24 PM PHT

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