SSI Group Net Income up 63% to PhP998.

7 Million
SSI Group, Inc., the country largest specialty store retailer, posted
unaudited net income of PhP998.7m in 2014, a 63% increase over the
PhP613.7m generated in 2013. The Groups performance was driven by
its store expansion program, the depth of its brand portfolio and
sustained gross profit margins.
2014 unaudited revenues were at PhP15.2B, a 19% increase over the
previous year, while revenue in the fourth quarter grew by 26% to
PhP5.2B. This is as the Group expanded its store network by a net of 126
stores, or 35,500 sq.m. of new retail space, increasing its retail footprint
by 36%. EBITDA for the period was at PhP2.9B, an increase of 88% y-oy.
According to Anton T. Huang, President of SSI Group, 2014 was a
landmark year for SSI as we executed our largest store expansion
program to date. We continue to leverage on a brand portfolio that
resonates with consumers, on the availability of prime retail space, and
on evolving consumption patterns and consumer tastes. We expect that
these factors will continue to drive our performance in 2015.
At the end of 2014 the Group had 106 brands in its portfolio and was
operating 723 specialty stores covering 134,000 sq.m. of retail space, as
well as 90 FamilyMart convenience stores.