Shoppers take a photo at the Christmas display at Robinson's Magnolia on Oct. 24, 2020. Gigie Cruz, ABS-CBN News/File
MANILA — Robinsons Retail Holdings Inc on Wednesday said net income attributable to equity holders (NIAT) for the first 9 months of the year hit P4.4 billion, higher by 62.7 percent.
The strong performance was attributed to the solid earnings in the third quarter with a NIAT of P1.7 billion, RRHI said in a disclosure to the stock exchange.
Net sales in the third quarter accelerated by 19.3 percent to P44.7 billion, exceeding pre-pandemic levels, RRHI said.
In Q3, core net earnings (net income excluding FX, interest income from bonds, equitized net earnings from Robinsons Bank, and others) surged 91.4 percent to P1.4 billion and 72.6 percent to P3.6 billion from January to September, it added.
"Robinsons Retail's stellar performance in the third quarter validates our view that the retail climate in the Philippines remains healthy notwithstanding rising inflation," RRHI President and CEO Robina Gokongwei Pe said.
"We continue to invest in our multi-format categories - be it in the offline or online channels - as we remain steadfast in our commitment to provide quality products and services," she added.
Malls, offices and other businesses have significantly regained activities due to the full opening of the economy, face-to-face classes, easing in tourist restrictions and return to work mandates.
RRHI operates Robinsons Department Store, Robinsons Supermarket, The Marketpalce, ToysRUs, True Value, TGP, Southstar Drug and Ministrop, among others.
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