Robinsons Retail 9-month profit jumps nearly 63%

236

By Inquirer

Gokongwei-led Robinsons Retail Holdings Inc. weathered the inflation contagion with hefty nine-month profit of P4.4 billion, up nearly 63 percent.

At the same time, January to September sales jumped 16.7 percent to P127.1 billion while gross margins increased by 80 basis points to 23.7 percent despite cost pressures.

“Robinsons Retail’s stellar performance in the third quarter validates our view that the retail climate in the Philippines remains healthy notwithstanding rising inflation,” Robinsons Retail Holdings president and CEO Robina Gokongwei Pe said in a statement on Wednesday.

READ full story HERE.