Robinsons Retail Holdings Inc. said on Tuesday its attributable net profit last year rose 39% to 4.47 billion pesos from the previous 3.21 billion pesos, despite flat sales.
“The positive performance in the last quarter of 2021 shows how we have come together as a company with unwavering dedication, amid the continued challenges of Covid-19 throughout the year,” said Robina Gokongwei Pe, President and CEO of the company.
Revenues remained stable at 153.32 billion pesos against 151.07 billion pesos previous. In the fourth quarter alone, when it made more than half of the year’s revenue, the company’s profits doubled to 1.76 billion pesos from 825 million pesos a year earlier. Revenue, meanwhile, rose 7% to 44.4 billion pesos from the previous 41.49 billion pesos.
The company said the positive sales performance was also helped by the easing of Alert Level 2 restrictions in the National Capital Region from November, which allowed for greater public mobility, including including children and the elderly.
Same-store sales growth was 2.3%, due to the strong performance of the drugstore, department store, convenience and specialty store segments.
E-commerce increased threefold from the previous year and accounted for 3.9% of total sales.
“We entered 2022 driven by our constant goal to remain focused on the needs of our customers. We look forward to reinvigorated business activity as alert levels drop due to better pandemic responses, as the nation moves forward with a clearer path to a more open economy,” said Gokongwei- Pe.
In September 2021, RRHI announced that it would expand its pharmacy operations in the country after opening its 870th pharmacy in Cebu.
The company has opened a Rose Pharmacy branch in Lapu-Lapu City, Cebu, which it sees as a milestone for RRHI’s pharmacy business.
The company also owns TGP or The Generics Pharmacy, which has more than 2,000 franchise stores nationwide.
RRHI acquired Rose Pharmacy Inc. in 2020 from Mulgrave Corp. BV, a wholly owned subsidiary of Dairy Farm International Holdings Ltd.