Robinsons Retail Holdings, Inc. (RRHI), a member of the Gokongwei Group, reported a 39.2 percent growth in attributable net income to P4.5 billion last year, boosted by its strong performance in the fourth quarter of 2021.

In a disclosure to the Philippine Stock Exchange, RRHHI said its net sales improved 1.5 percent to P153.3 billion while EBITDA increased 2.4 percent to P13.1 billion.

“The positive performance in the last quarter of 2021 shows how we came together as a company with unwavering dedication, amid the continued challenges of Covid-19 throughout the year,” said RRHI President and CEO Robina Gokongwei-Pe.

During the fourth quarter last year, RRHI doubled its attributable net income to P1.8 billion from P825 million in the same period of 2020.

Net sales continued to be on the uptrend posting 7.0 percent growth to P44.4 billion for the last quarter of 2021, propelled by increased spending during the holiday season.

The positive sales performance was also aided by the easing of restrictions to Alert level 2 in the National Capital Region (NCR) starting November, which provided greater mobility to the public, including children and senior citizens.

Same Store Sales Growth (SSSG) was at 2.3 percent, coming from the strong performance of the drugstore, department store, convenience store and specialty store segments.

E-commerce grew three times compared to the fourth quarter of 2020 and accounted for 3.9 percent of total sales.

Gross profit improved by 11.3 percent to P10.3 billion, benefitting from increased vendor support and better product mix across most segments.

Coupled with efforts to reduce costs and yield more savings, this translated to EBITDA uplift by 19.9 percent to P4.1 billion.

“We entered 2022 driven by our constant goal to remain focused on our customers' needs. We look forward to reinvigorated business activity as alert levels fall due to better responses to the pandemic, while the nation forges ahead with a clearer path towards a more open economy,” said Gokongwei-Pe.