Robinsons Retail Holdings Inc. (RRHI) saw its core profit in the first nine months inch up to P4.2 billion this year from P4 billion last year on higher gross margin.
Net income attributable to equity holders of the parent company, however, dropped by 60 percent to P3.1 billion from P7.8 billion. This was amid the absence of a one-time gain from the Bank of the Philippines Islands and Robinsons Bank merger.
Net sales during the January to September period improved by 4.8 percent to P149.2 billion.
‘The strength of our core businesses and our continued focus on operational efficiency have enabled the company to deliver sustained revenue growth and profitability,’ said Stanley Co, president and chief executive officer of RRHI.
‘As we enter the peak retail season, we are optimistic that consumer demand across our banners will pick up. This should allow us to end the year strong, with healthy sales and earnings momentum,’ Co said.