Year-to-date core earnings reached P4.2 billion, up 3.9 percent, while reported net income dropped 60 percent to P3.1 billion due to the absence of last year’s one-time gain from the Bank of the Philippine Islands–Robinsons Bank merger.
Management’s view
“The strength of our core businesses and our continued focus on operational efficiency have enabled the company to deliver sustained revenue growth and profitability,” said RRHI president and CEO Stanley C. Co.
“As we enter the peak retail season, we are optimistic that consumer demand across our banners will pick up,” he added.
Lean season
Net sales climbed 4.8 percent to P149.3 billion for the first nine months, supported by a 3.1 percent same-store sales increase despite weather disruptions and shifts in school openings.
Operating income grew 4.5 percent to P6.6 billion, highlighting efficiency gains across business units.
As of September, the group operated 2,501 stores and 2,118 franchised TGP outlets nationwide.
—Edited by Miguel R. Camus
