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Manila Bulletin devider Business devider The Stock Market devider Upson profits rise 33% in 2022

Upson profits rise 33% in 2022

Published Apr 18, 2023 06:46 am


Upson International Corporation (UPSON), the country’s largest retailer of personal computers (PCs) and information technology (IT) products, booked a 33.25 percent growth in net income to P537.86 million last year from P403.64 million in 2021. In a disclosure to the Philippine Stock Exchange, the firm said its revenues rose by 10.38 percent to P9.46 billion in 2022 from P8.57 billion recorded in 2021. UPSON is a retail company that operates several retail outlets such as Octagon Computer Superstore, Micro Valley, Gadget King, as well as concept and specialty stores like Acer, HP, Brother, Silvertec and Octagon Mobile in select locations. As of December 2022, UPSON operates 207 branches nationwide and a total of six warehouses,located in Manila, Cebu, Cagayan De Oro, and Davao City. A significant driver of the company’s financial growth in 2022 was the expansion of UPSON’s retail branch network which added 24 new branches to their existing 183 retail branches in 2021. “Our financial performance is a testament to our commitment to be the shopping gateway to technology. This commitment shall be our legacy contribution to support the digital transformation of our country,” said Upson President and CEO Arlene Sy. She added that, “This is why we are continuously expanding our retail footprint nationwide, along with warehouses and logistics operations, to reach underserved markets.”
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