In its 3rd quarter audit report, Upson International Corp. (Upson) saw its net income rise by 68.6% — PHP400.23M net income from PHP237.38M booked for the same nine-month period of 2021. The company also recorded in its 3rd quarter financial statements a net sales of PHP7.03B, a 10.17% jump from the PHP6.38B from the same period last year.
Upson is the country’s leading retailer of personal computers (PC) and information technology (IT) products, having a combined network of more than 200 branches nationwide with their retail brands Octagon, Micro Valley, Gadget King, and other specialty, concept stores.
Higher sales volumes and more efficient operations accounted for the strong growth.
“Amidst an industrywide shortage of supply, Upson still recorded revenue growths of 5.15% and 7.66% in 2021 and 2020, respectively,” according to Arlene Sy, President and Chief Executive Officer of Upson. Sy also noted that the retail market was challenged by the significant loss of foot traffic caused by the pandemic. However, the long periods of immobility prompted the market to adapt by implementing various arrangements, which include online learning and work-from-home set-ups.
To date, Upson carries over 13,000 PC and IT products, some of which are exclusively sold by its stores. Over the years, the company has been named top distributor, dealer of the year, retail partner of the year, and top national sales by its long-standing suppliers such as Acer, Asus, Epson, HP, Seagate, and more. Moving forward, Upson aims to continue to be at the forefront in support of the nation’s drive toward technological advancement.
“We are thankful for our loyal customers who continuously patronize our products. I also commend the entire Upson family for their efficient and diligent work, which empowered us to keep growing. Upson is committed to assist our country towards technology and digitalization. Our rollout plan is to add 250 more branches over the next 3 to 5 years. We shall continue to provide authentic, untampered, and high-quality PCs and IT products for all Filipinos up to the farthest possible corners of our country,” Sy added.