Metro Retail income reaches P789m
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Cebu-based Metro Retail Stores posted P789 million (US$15.7 million) net income last year, up from P758 million in 2015.
Net sales for the fourth quarter grew 7.4 per cent to P10.67 billion, reports the retailer, part of the Gaisano Malls group.
Sales grew steadily during the quarter, says the Visayan retailer, with overall net sales hitting P34.4 billion for the year, up by P2.1 billion.
During the year the company ramped up its supply chain and logistics modernization program. It inaugurated a warehouse in Cebu, and bought delivery trucks equipped with tracking devices.
Chairman/CEO Frank Gaisano says the company is looking to sustain this growth trajectory this year, with initiatives in place to boost sales and improve store-by-store profitability.
The company has a 50-strong store network – 25 supermarkets, 13 hypermarkets and 12 department stores.
Questions & Answers
How much was Metro Retail's net income for the previous year?
Metro Retail's net income for last year was P789 million. This figure represents an increase from P758 million recorded in the year before, showing a positive trend in their financial performance.
What was the total value of Metro Retail's net sales for the entire year?
The retailer achieved overall net sales of P34.4 billion for the year. This represents a P2.1 billion increase compared to the previous period, indicating significant growth in their annual revenue.
How many retail outlets does Metro Retail currently operate?
Metro Retail operates a network of 50 stores in total. This comprises 25 supermarkets, 13 hypermarkets, and 12 department stores, showcasing a diverse retail presence across different formats.
What improvements did the company make to its supply chain and logistics during the year?
During the year, the company ramped up its supply chain and logistics modernisation programme. This included opening a new warehouse in Cebu and acquiring delivery trucks equipped with tracking devices for improved efficiency.