By Inquirer.Net
The listed retail group of the billionaire Gokongwei family saw profits climb last year as it rode the postpandemic revenge spending wave.
In a stock exchange filing on Thursday, Robinsons Retail said net income went up 26.7 recent to P5.74 billion as net sales expanded by 16.6 percent to P178.82 billion.
Robinsons Retail is the operator of Robinsons Supermarket, Ministop and Rose Pharmacy said the bottomline also benefited from cost-cutting measures
“In 2022, our businesses directly benefitted from the economy’s gradual return to normalcy, including back to face-to-face classes in schools, increased travel and tourism, and the first normal holiday season in two years,” the company said.
“The surge in profitability is underpinned by positive contributions from all business segments coming from category mix improvements and operating efficiencies,” it added.
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