Robinsons Retail H1 profit surges by 64%
Robinsons Retail Holdings Inc. saw earnings skyrocket in the second quarter, pushing up first half profits by 64 percent to P2.73 billion, as the company continued its recovery from the pandemic slump.
The Gokongwei-led retail giant, which owns supermarkets, department stores and pharmacies, said first semester net sales rose 15.3 percent to P82.4 billion.
Second quarter profits jumped over 115 percent to P1.56 billion, exceeding prepandemic earnings by nearly 45 percent, Robinsons Retail said in a statement. Second quarter net sales were likewise higher by 19.8 percent to P42.94 billion.
“Our banners performed very well during the second quarter. Our cost-efficiency efforts have also continued to yield positive results,” said Robina Gokongwei Pe, president and CEO of Robinsons Retail.
“Thus, we are in a position of renewed fervor and strength to further widen our already expansive offline and online reach and broaden our ecosystem of products & services in order to gain more valuable customer relationships,” she added.
The company underscored that profit gains were on account of the “full quarter impact of the austerity measures implemented last year” and better revenues.
It said ales during the quarter were higher above the prepandmeic level by 7.7 percent.
Moreover, same store sales growth rose 15.5 percent “due to higher transaction count across segments, given improvements in mobility and easing of border restrictions.”
Robinsons Retail said higher margins also pushed up gross profit by 25.5 percent to P10.2 billion. Earnings before interest, taxes, depreciation, and amortization likewise increased 32.7 percent to P3.8 billion during the quarter.
