Belo Medical Group has lower net income now – Vicki Belo
Celebrity doctor Vicki Belo admitted that the Belo Medical Group has lower net income now compared to previous years.
Her company is one of the biggest beauty and cosmetic companies in the Philippines. Many celebrities and prominent personalities in the society are trusting their services and products.
It is no wonder that Vicki is one of the richest celebrities in the country right now.
On the other hand, she admitted that Belo Medical Group is also suffering from the high prices of commodities.
Based on the report published in ABS-CBN News, Vicki Belo said that her beauty clinic chain has a lot lower net income due to rising costs of imported materials.
Aside from that, the fragrances and packaging materials also became costly. Furthermore, the high price of fuels resulted to higher delivery costs.
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Despite of this situation in her business, the celebrity doctor said that she did not pass the burden of higher taxes to the costumers.
The prices of the beauty procedures and products in her clinics remained the same.
“My income today is a lot lower than it used to be. The gross is much bigger but the net is much smaller because everything is just so expensive,” Vicki Belo said.
Vicki’s daughter, Cristalle Belo-Pitt, the Belo Medical Group managing director, said that although the production costs are higher, the company is holding off on price increases.
“We feel the pressure from that end but we don’t wanna pass it on to the consumer if it is not necessary,” Cristalle said.
In order to cope with the present economic situation, the company came up with “smaller-sized, less-priced packaging”.
“Self-care, feeling good, it’s really part of it. They won’t let go. So thankfully, I think we will survive,” Cristalle added.
Belo Medical Group is set to expand to the Middle East. They will open a clinic in Dubai next year, based on the report.