RRHI net income more than doubles to P10.3B in 2024

Robinsons Retail Holdings Inc. (RRHI) reported a significant increase in attributable net income for 2024, more than doubling it to P10.3 billion from P4.1 billion the previous year.

Core earnings grew by 12.3% to P6.334 billion, while net sales increased by 3.7% to P199.167 billion and operating income rose by 9.1% to P9.753 billion.

The company's growth was driven by higher sales and a one-time gain from the merger of Robinsons Bank with BPI, which took effect on January 1, 2024.

RRHI president Stanley Co highlighted the company's resilience in sustaining growth despite challenging market conditions, noting that same-store sales grew by 1.5% for the year.

As of year-end 2024, RRHI operated 2,453 stores across various categories and had 2,115 franchised stores of The Generics Pharmacy.

The company's portfolio includes well-known brands such as Handyman Do it Best, Toys 'R' Us, Uncle John's, Daiso, Pet Lovers Center, South Star Drug, and The Generics Pharmacy.