Oliver 11 0 0 3 min to read

As the economy continues to improve, a multiformat store made P1.85 billion in Q3.

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Robinsons Retail Holdings’ net income in the third quarter of the year increased by 64 percent year over year to PHP1.85 billion as a result of the economy’s ongoing recovery.

The listed company reported net income attributable to equity holders of the parent company increased by 60.8 percent to PHP1.67 billion from PHP1.04 billion a year ago, according to a report to the Philippine Stock Exchange (PSE) on Wednesday.

Net income surged by 66.1 percent to PHP4.81 billion as of September this year, while net income attributable to equity holders of the parent business increased by 62.7 percent to PHP4.41 billion.

Between July and September of this year, core net earnings increased by 91.4 percent to PHP1.45 billion, and by the end of September, they had increased by 72.6 percent to PHP3.53 billion.

The company reported that in the third quarter alone, net sales jumped by 19.3 percent to PHP44.7 billion, with same-store sales growth (SSSG) increasing by 15.1 percent due to the return of in-person education and employment as well as increased travel and tourism.

For the academic year 2022–2023, the government has approved the resumption of face–to–face instruction beginning in kindergarten. Although it was initially only partially implemented, starting on November 2 all public schools must offer complete face-to-face classes.

President and CEO of Robinsons Retail Holdings Inc. Robina Gokongwei Pe stated that the company’s third-quarter results “confirm our conviction that the retail climate in the Philippines is solid notwithstanding rising prices.”

Sustained reopening trends, according to her, have resulted in increasing volumes and operating leverage.

She continued, “As we remain strong in our mission to provide great products and services, we continue to invest in our multi-format categories, whether it is in the offline channels.

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