Robinsons Retail earnings up 39% in 2021 to P4.5 billion
MANILA, Philippines — Robinsons Retail Holdings Inc. grew its net income to P4.5 billion last year, up 39.2 percent from 2020.
This was on the back of a 1.5 percent increase in sales to P153.3 billion last year from P151 billion the previous year.
In the fourth quarter alone, RRHI doubled its net income to P1.8 billion from P825 million a year ago.
Net sales continued to be on the uptrend, posting a seven percent increase to P44.4 billion for the last quarter of 2021, propelled by increased spending during the holiday season.
The positive sales performance was also aided by the easing of restrictions to Alert Level 2 in the National Capital Region (NCR) starting November, which provided greater mobility to the public, including children and senior citizens.
Same store sales growth (SSSG) was at 2.3 percent, coming from the strong performance of the drugstore, department store, convenience store and specialty store segments.
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