Wilcon Depot Inc. saw its net income slide by 64.6 percent to P352 million in the first half of 2020 from P995 million year-on-year. In a filing, the listed home improvement company said the enhanced community quarantine (ECQ) imposed in mid-March forced its 44 Luzon stores to temporarily close. The stores were only allowed to resume operations in mid-May. Wilcon said sales from its Luzon stores accounted for 84 percent of its total sales pre-ECQ. This affected its first-half results, with the impact felt largely in the second quarter. Wilcon recorded a 23.2-percent decline in net sales in the first half to P9.04 billion from P11.78 billion year-on-year. Wilcon shares shed 50 centavos or 3.23 percent to close at P15 apiece on Thursday.
