Metro Retail 9-mth net up 23.5% at P344M

NEWLY listed Cebu-based mall developer Metro Retail Stores Group Inc. (MRSGI) booked P344 million in net income in the first nine months of 2015, an increase of 23.5 percent from P278 million a year ago on improved same-store sales and new store sales.

The company said net sales improved by 15 percent to P22.36 billion from P19.45 billion a year ago as same-store sales grew by 9.5 percent in the nine months, while revenue streams from new stores -- two supermarkets and four hypermarkets -- also contributed to the higher sales.