BY ANGPING & ASSOCIATES SECURITIES
Robinsons Retail Holdings Inc. (RRHI) Profit grew 29.5% to PHP 3.6 billion from PHP 2.8 billion in 2013, fueled by higher income from operations and interest income.
Core net earnings, which exclude interest income on bond investments, equitized earnings and forex gains or losses, jumped 18.0% to PHP 3.4 billion in 2014.
Net sales was able to breach the PHP 80.0 billion for the first time last year as it went up 19.5% to PHP 80.4 billion due to the sales contribution of 263 new stores in 2014 as well as full sales contribution of the 152 stores it opened the previous year.
As of end-2014, Robinsons Retail operated 1,327 stores nationwide and expanded its gross floor area 18.6% year-on-year.