HOME improvement and construction supply company Wilcon Depot Inc. said Monday that it was planning to open 10 new stores this year despite a "strategically reduced" capital expenditure (capex) budget.
"For the last two years, we budgeted close to P4 billion [in capex] annually but did not exceed P3 billion in actual spending. This year, we have strategically reduced our budget to P2.2 billion, focusing on projects that carry over from 2023 and new developments aimed at maximizing our growth potential," said Mary Jean Alger, vice president for investor relations at Wilcon Depot.
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