Robinsons Retail Holdings Inc. reported an impressive rise in net income in the second quarter, more than doubling to P1.6 billion as sales exceeded pre-pandemic levels.
The P1.6 billion profit recorded from April to June was 44.7 percent higher than the 2019 pre-pandemic level, driven by austerity measures implemented last year.
Second quarter net sales grew 19.8 percent to ₱42.9 billion, surpassing pre-pandemic level by 7.7% percent on the back of same store sales growth of 15.5 percent amid easing of movement restrictions.
Robust gains from the second quarter brought RRHI’s year-to-date net income to P2.7 billion or an increase of 64 percent year on year. Net sales jumped grew 15.3 percent to ₱82.4 billion, 3.6 percent of which came from e-commerce sales.
“Our cost-efficiency efforts have continued to yield positive results. 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,” said Robina Gokongwei Pe, president and CEO of RRHI.