LISTED retailer Robinsons Retail Holdings Inc. (RRHI) said net income in 2016 rose by 11.6 percent from the year earlier on strong sales.
In a disclosure to the Philippine Stock Exchange on Monday, RRHI said its net income attributable to equity holders reached P4.85 billion last year from P4.34 billion in 2015. Net income after tax was up by 13.8 percent year-on-year at P5.2 billion.
Net sales improved 15.9 percent to P105.3 billion last year on strong same store sales growth (SSSG), new income streams from the 72 new stores, and sales from recent acquisitions.
The new acquisitions include Savers Appliances, which was acquired in September 2015; The Generics Pharmacy in May 2016; De Oro Pacific Home Plus in August last year; and Chic Centre in October 2016.
Same store sales growth of its supermarkets segment was at 6.2 percent, department stores at 5.1 percent, convenience stores at 4.2 percent, drugstores at 7.4 percent, and specialty stores at 12.4 percent.
“Robinsons Retail posted a record high SSSG at 6.7 percent, with all the business segments exhibiting robust same store sales performance. Our acquisitions have provided opportunities to strengthen our current business segments,” Robina Gokongwei-Pe, RRHI president and chief executive officer, said.
RRHI operated 1,578 stores as of end-2016, and has expanded its gross floor area by 7.3 percent to over 1 million square meters of floor space last year. This is on top of the new 1,912 stores from the acquisition of The Generics Pharmacy.
The company’s existing retail brands include Robinsons Supermarket, Robinsons Easymart, Robinsons Selection, Handyman Do it Best, A.M. Builders’ Depot, True Value, Topshop, Topman, Shiseido, Benefit, Toys “R” Us, Daiso Japan, Ministop, Costa Coffee and South Star drug store chain, among others.
The Gokongwei-family owned Robinsons Retail operates six retail businesses — supermarkets; department stores; DIY stores; convenience stores; drug stores; and specialty stores.