Robinsons Retail says net sales, net income surpass pre-pandemic levels in Q2

ABS-CBN News

Posted at Aug 04 2022 06:37 PM

MANILA - Robinsons Retail Holdings Inc. on Thursday said its net income attributable to equity holders of the parent company (NIAT) reached P1.6 billion in the second quarter which is more than double the P724 million in the same comparable period.

The total is also higher by 44.7 percent compared to the second quarter in 2019 or its pre-pandemic level, RRHI told the stock exchange. 

The Gokongwei-led firm said the surge in profitability is on the back of good operating performance and full quarter impact of austerity measures implemented last year.

Net sales, meanwhile, reached P42.9 billion in the quarter, up 19.8 percent compared to 2021 and by 7.7 percent compared to pre-pandemic level in 2019, RRHI said.

Robust gains in the second quarter brought the first half net income attributable to the parent company to P2.7 billion, which is 64 percent higher compared to the same period last year. 

Net sales in the first half jumped 15.3 percent to P82.4 billion, it added.

"Our banners performed very well during the second quarter. Out cost-efficiency efforts have also continued to yield positive results," RRHI president and CEO Robina Gokongwei Pe said.

"Thus we are in a position of renewed fervor and strength to widen our already expansive offline and online reach and broaden our ecosystem of products and services in order to gain more valuable customer relationships," she added. 

Robinsons Department Stores, Shopwise, The Marketplace, True Value, Southstar Drug Store, No Brand and Toys R' Us are among the brands under RRHI's portfolio. 

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