In the Philippines Robinsons Retail Holdings, Inc. (RRHI) registered a consolidated net income of Ph 4.34 billion (us$944m) last year, 21.9% higher from the P3.56 billion registered in 2014. Robinson Retail’s large portfolio includes convenience store chain Ministop. It also operates Costa Coffee in the Philippines.
In the fourth quarter, earnings rose by an annual 12.7% to Ph1.37 billion from Ph1.22 billion. Core net income jumped by 5.8% year on year to Ph3.63 billion from Ph3.43 billion, without the impact of interest income on bond investments, equitized net earnings from its 40% stake in Robinsons Bank and foreign exchange gains or losses.
Robinsons Retail opened 179 stores, well below the original plan to add 270-300 stores, bringing the total network to 1,506 stores at end-December 2015, expanding its total gross floor area by 9.7%.
RRHI President Robina Gokongwei-Pe said she is “heartened” by the strong same-store growth seen across its retail formats“. She added, “We also have a good start to 2016 with solid SSSG for the first two months of the year as we benefitted from increased consumer spending from a still robust domestic economy. We will continue with our footprint expansion, with focus on areas outside Metro Manila. Looking for potential mergers and acquisitions continues to be part of our strategy in growing the business”.
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