MerryMart profit drops 28.6% amid expansion strain

MANILA, Philippines — Higher expenses pushed down the earnings of grocery store chain operator MerryMart Consumer Corp. in 2023, as the company worked to scale up its wholesale business. MerryMart, led by tycoon Edgar “Injap” Sia II, on Monday reported that its net income last year dropped by 28.6 percent to P406.8 million from P569.8
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