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Robinsons Retail Holdings Inc. (RRHI) said profit in the first half of the year declined by 34.3 percent to P1.8 billion from P2.74 billion on the impact of higher foreign exchange losses and equitized losses from associates.
RRHI said sales grew 10.5 percent to P91.98 billion from P82.37 billion, with the topline supported by blended same store sales growth (SSSG) of 6.3 percent and contributions from newly opened stores.
“The supermarkets, drugstores, and department store segments continued to post double-digit revenue growth owing to sustained demand from the broad middle market,” RRHI said in a statement.
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Operating income increased 6.8 percent to P3.9 billion.
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