, Philippines
Source: Robinsons Retail website

Robinson Retail net income doubles in Q2 

The company recorded a 124% net income growth to P1.68b.

Robinsons Retail Holdings, Inc.’s net income grew 124.3% to P1.68b in the second quarter of 2022 after net sales exceeded its pre-pandemic levels. 

The company’s net income attributable to equity holders rose 115.1% to P1.557 during the same period. 

“Our banners performed very well during the second quarter. Our cost-efficiency efforts have also continued to yield positive results,” Robina Gokongwei Pe, President & CEO of Robinsons Retail Holdings, Inc. said. 

“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.”

Read more: Robinsons Retail to buy 100% stake in Ministop Philippines

In the first half of the year, Robinsons Retail’s net income climbed by 67.2% to P2.96b.

Net sales meanwhile increased by 15.3% to P82.36b in the first half and by nearly 20% to P42.94b in the second quarter. This is 7.7% more than what the company recorded before the pandemic hit its operations.

Robinson Retail linked the improved overall sales to the 15.5 % same store sales growth (SSSG) driven by higher transaction count across segments as well as the improved mobility as border restrictions were eased. 

 

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