Upson net income down 14% in 2023

By Brix Lelis

Mar 26, 2024 12:19 am

UPSON International Corp. saw its net income last year drop by 13.7 percent to P464.2 million from P537.9 million in 2022 due to lower gross margins and pre-opening expenses.

Consolidated revenues, on the other hand, inched up by 5.8 percent year on year to P10 billion, thanks to contributions from new stores and a marginal increase in sales from existing outlets.

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