Robinsons Retail’s 2015 profit up 21.9 percent
Gokongwei-led retailer Robinsons Retail Holdings Inc. grew its net income by more than a fifth to P4.34 billion last year on higher sales from its growing store network.
Consolidated net sales rose 13 percent to P90.88 billion owing to the sales contribution of 179 new stores in 2015.
Core net earnings, which exclude interest income on bond investments, equitized net earnings from a 40 percent stake in Robinsons Bank and forex gains or losses, went up by 5.8 percent to P3.63 billion.
In the fourth quarter alone, net earnings rose 12.7 percent to P1.37 billion.
Robinsons Retail, which has 29 years of retailing experience with its chain of department stores, supermarkets, hardware and home improvement outlets, appliance stores, fashion specialty stores, convenience store and the toy store Toys R’ Us, ended 2015 with a total store network of 1,506 stores.
The company spent P4.24 billion last year for capital expenditures which included the acquisition of 25 stores of Savers Appliances.
Robina Gokongwei-Pe, president and COO of Robinsons Retail, said the company continues to be on the lookout for potential mergers and acquisitions to further grow its business.
“We will continue with our footprint expansion, with focus on areas outside Metro manila,” she said.