RRHI nets P785M, inks grocery delivery deal

GOKONGWEI family-led retailer Robinsons Retail Holdings Inc. grew core earnings in the first quarter by 9.6 percent percent year-on-year to P696 million, excluding treasury activities and its share of income from Robinsons Bank.

RRHI disclosed to the Philippine Stock Exchange on Monday that net income attributable to equity holders of the parent company recorded a flattish growth at 0.5 percent to P785 million in the first quarter. This was attributed to the booking of P73 million in unrealized foreign exchange losses from the US dollar denominated available-for-sale investments on the back of the appreciation of the peso against the US dollar at end-March this versus the end- 2015 level.

Consolidated net sales for the first quarter grew by 15.1 percent year-on-year to P22.7 billion, driven by the same store sales growth rate of 9 percent and the sales contribution of new stores.

Robinsons Retail operated a total of 1,514 stores (+158 stores from April 2015 to March 2016) and expanded its total gross floor area by 7.8 percent year-on-year to around 967,000 square meters.

Meanwhile, RRHI unit Robinsons Supermarket Corp. has teamed up with HappyFresh Philippines for an online grocery delivery service which was officially launched on May 15.

With this partnership, customers can order their grocery requirements from within a 5-kilometer radius of 20 selected Robinsons Supermarket branches in Metro Manila. This will initially be offered to residents of Metro Manila and eventually to other urban centers in the country.