Metro Retail reverses net loss in first nine months

Its net income amounted to P400m.

Metro Retail Stores Group, Inc. (MRSGI) reversed losses after posting a net income of P400.7m in the first nine months of the year. 

This is an improvement from the net loss of P306m4m in the previous year. 

“The sustained strong performance of Metro Retail supports our achieving full recovery in 2022 and lay the foundation for sustainable growth in the coming years. Alongside our goal to provide best-in-class customer experience through operational excellence, we are eager to return the unwavering trust and support of our stakeholders,” MRSGI President and COO Manuel Alberto said. 

“Metro Retail will continue to gear up and find strategic opportunities to realize strong results this 2022 and an even better outlook in 2023.”

Read more: Central Retail profit soars over 150% in Q3

In the third quarter alone, MRSGI reported its net income stood at P181.8m, against a net loss of P124.5m in 2021.