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Robinsons Retail Q2 profit climbs 27.7% YOY

Robinsons Retail Holdings Inc. said its second-quarter normalized net income came to 62 Philippine centavos per share, compared with the S&P Capital IQ consensus estimate of 61 centavos per share.

EPS climbed 25.8% year over year from 49 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 859.3 million pesos, a gain of 27.7% from 672.9 million pesos in the year-earlier period.

The normalized profit margin increased to 3.9% from 3.4% in the year-earlier period.

Total revenue grew 10.9% on an annual basis to 22.11 billion pesos from 19.93 billion pesos, and total operating expenses rose 11.2% on an annual basis to 20.93 billion pesos from 18.83 billion pesos.

Reported net income rose 34.2% from the prior-year period to 1.08 billion pesos, or 78 centavos per share, from 806.2 million pesos, or 59 centavos per share.

As of Aug. 14, US$1 was equivalent to 46.16 Philippine pesos.