Supermarket and specialty retailer Robinsons Retail Holdings Inc. (RRHI) saw its earnings in the first nine months of the year triple to P7.81 billion on gains from the sale of its banking unit to the Ayala group.doubleu casino

Bank of the Philippine Islands (BPI) officially took over Robinsons Bank last January through a P32-billion transaction.

Without this one-time gain, RRHI’s core earnings in the January to September period rose by 7.6 percent to P4.1 billion, the Gokongwei-led company said in a stock exchange filing on Friday.

Article continues after this advertisement

READ: Robinsons eyes 75 to 100 new retail stores

FEATURED STORIES BUSINESS Naia terminal 2 to get busier starting Nov. 5 BUSINESS Peso falls past 58:$1 level BUSINESS BSP, German banknote printer to develop counterfeit-proof peso bills

At the same time, net sales had a modest 3-percent growth to P142.4 billion on sustained contributions from the core food and drugstore segments of RRHI, whose portfolio includes Robinsons Supermarket, Marketplace, The Generics Pharmacy (TGP) and Southstar Drug.

“We expect to see an uplift in sales in the months ahead as consumers regain their confidence amid easing inflation,” RRHI president and CEO Robina Gokongwei-Pe said.

Article continues after this advertisement

Gross profit during the period inched up by 4.3 percent to P34.3 billion.

Article continues after this advertisement

Operating income, meanwhile, increased by 3.7 percent to P6.4 billion, with growth tempered by higher costs from the company’s two new distribution centers that are being used for store expansion.

Article continues after this advertisement

As of end-September, RRHI had a total of 2,413 outlets composed of 1,101 drugstores, 758 food stores, 225 do-it-yourself stores, 279 specialty stores and 50 department stores. It also has 2,163 franchised TGP stores.

Earlier, Gokongwei-Pe told the Inquirer that they planned to open up to 100 new retail stores this year.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.doubleu casino

READ NEXT DOST: Utilize AI to avert power outages Private sector must be involved in agri governance EDITORS' PICK Palace, DOJ laud drug den raid, suspect’s arrest near Malacañang Cyber security group issues warning about ‘social media poisoning’ amid Kristine calamity Café in Cubao under fire for using ‘EJK-themed’ decorations for Halloween Kristine death toll hits over 40 as damage widens  Marcos: Continue monitoring Kristine-hit areas as new storm hovers CJ Opiaza is Miss Grand International 2024 1st runner-up; India wins crown MOST READ LIVE UPDATES: Tropical Storm Leon DBM OKs earlier release of gov’t workers’ yearend bonus, cash gift Tropical Storm Kong-rey to enter PAR on Sunday, to be named Leon Nasa astronaut remains in hospital after returning from space Follow @FMangosingINQ on Twitter --> View comments

• doubleu casino
• bank
• Robinsons
• Sale
• triples