Robinsons Retail grows in net profit
In this article (5)
With its expanding store network, Robinsons Retail Holdings (RRHI) has grown its net profit for the first nine months by 5.8 per cent year-on-year to PHP3.49 billion (US$68.2 million).
Excluding one-off items and earnings from its 40 per cent stake in Robinsons Bank, RRHI’s core retailing net profit increased by 12.9 per cent to PHP3.12 billion.
Consolidated net sales reached PHP81.18 billion, up by 10 per cent on steady same-store sales and the contribution of the new stores. Excluding the new stores, same-store sales growth was 2.8 per cent. In various segments the growth was: supermarkets, 2.1 per cent; convenience stores, 2.6 per cent; DIY hardware, 7.2 per cent; drugstores, 2 per cent; and specialty stores, 8.4 per cent.
Blended gross margins expanded by 80 points to 22.4 per cent for the period, attributed to increasing scale and improvement in category mix.
Operating income rose by 16 per cent to PHP4.22 billion, and EBITDA went up by 13.2 per cent to PHP5.74 billion, the margin expanding by 20 points 7.1 per cent.
Supermarkets continued to account for the largest share of the group’s consolidated net sales, contributing 46 per cent to total business in the nine months.
Questions & Answers
Q.What is the primary factor attributed to the expansion of Robinsons Retail's blended gross margins?
What is the primary factor attributed to the expansion of Robinsons Retail's blended gross margins?
The expansion of blended gross margins to 22.4 per cent for the period is attributed to increasing scale and an improvement in the category mix of products sold.
Q.Which business segment contributed the most to Robinsons Retail's consolidated net sales?
Which business segment contributed the most to Robinsons Retail's consolidated net sales?
Supermarkets were the largest contributor to the group’s consolidated net sales during the nine-month period, accounting for 46 per cent of the total business.
Q.How much did Robinsons Retail's core retailing net profit increase by, excluding one-off items?
How much did Robinsons Retail's core retailing net profit increase by, excluding one-off items?
Excluding one-off items and earnings from Robinsons Bank, the core retailing net profit for Robinsons Retail increased by 12.9 per cent to PHP3.12 billion.
Q.What was the growth rate for convenience stores and DIY hardware stores in terms of same-store sales?
What was the growth rate for convenience stores and DIY hardware stores in terms of same-store sales?
In terms of same-store sales, convenience stores grew by 2.6 per cent. DIY hardware stores saw a higher growth rate of 7.2 per cent during the period.
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