Robinsons Retail’s 9-month income declined by 41.4%

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Robinsons Retail Holdings Inc said net income attributable to equity holders of the parent company declined by 41.4 percent in the first nine months of the year to P2.58 billion from P4.4 billion recorded in the same period last year.

Nine-month core net income, however, climbed 4 percent to P3.78 billion as net sales increased 8.7 percent to P138.2 billion on 5-percent growth in same-store sales and store expansion initiatives. RRHI said it remained positive on the long-term potential of the domestic retail industry, despite near-term macroeconomic challenges, particularly the impact of inflation on consumer sentiment.

The group’s supermarkets and drugstores were the main revenue growth drivers during the period as sales of these two segments accounted for almost 75 percent of RRHI’s revenues for the period.

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MlaStandard /  🏆 20. in PH

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