Robinsons Philippines income jumps 21.9 per cent

Robinsons Philippines has reported a 21.9 per cent increase in net income in 2015 to P4.3 billion ($90 million) on the back of same-store sales growth and sales from newly opened stores.

Same-store sales growth for Robinsons Retail Holdings grew 4.1 per cent in 2015, exceeding the 2-3 per cent consolidated same-stores sales target for the year.

The company’s consolidated net sales reached P90.9 billion last year, up 13 per cent from P80.4 billion in 2014.

The retail holding firm of the Gokongwei group reported opening 2015 with 179 new stores and ended the year with a total of 1506 stores.

“I am heartened by the strong same-store sales growth performance of all our retail formats in 2015, despite the intensifying competition,” Robinsons Retail President and CEO Robina Gokongwei-Pe said.

“We have also gotten into a good start this 2016 with solid same-store sales growth for the first two months of the year as we benefited from increased consumer spending from a still robust domestic economy. We will continue with our footprint expansion, with focus on areas outside Metro Manila,” Gokongwei-Pe said.

The opening of new stores expanded the company’s gross floor area by 9.7 per cent year-on-year, the company said.