GOKONGWEI-LED Robinsons Retail Holdings Inc. (RRHI) said Tuesday that net income for the first half of 2024 had more than tripled to P7.08 billion, from P2.08 billion in the same period last year, on higher gross profit and operating efficiencies.
GOKONGWEI-LED Robinsons Retail Holdings Inc. said Tuesday that net income for the first half of 2024 had more than tripled to P7.08 billion, from P2.08 billion in the same period last year, on higher gross profit and operating efficiencies.Core net income for January to June grew 12.1 percent to P2.65 billion from P2.36 billion a year ago while net sales rose 4.4 percent to P22.48 billion from P21.5 billion, the firm told the stock exchange.
8 billion from P1.8 billion a year earlier, thanks to a one-time gain from the BPI-Robinsons Bank merger in the first quarter.Meanwhile, net sales for the second quarter grew 3.1 percent to P47.8 billion, resulting in first-half net sales of P93.47 billion, up 3 percent from a year ago, driven by strong revenue from its food outlets, drugstores and department stores.Improvements in the sales mix, higher vendor suppor, and optimized costs generated an operating income of P2.
Retail H1 Profit Surges To P7B
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