Metro Retail Stores Group Inc. (MRSGI), a supermarket and department store chain controlled by the Gaisanos of Cebu, reported a 45.7-percent jump in net income to ₱146.3 million in the first half of the year.

The company said its strong performance was particularly driven by its second-quarter results, where its net income reached ₱132.9 million, marking a hefty upswing relative to the ₱50.1-million earnings for the same period last year.

Net sales climbed 6.6 percent to ₱9.9 billion in the second quarter, primarily attributed to new store openings. This growth brought overall six-month net sales to ₱18.8 billion, a 4.4-percent increase compared to the prior year.

Furthermore, same-store sales growth for the second quarter rose by 1.7 percent, a positive turnaround from the 1.7-percent decrease in the first quarter.

"Our strong second-quarter results, highlighted by net income that more than doubled and EBITDA [earnings before interest, taxes, depreciation, and amortization] with 47-percent growth, demonstrate our strategic execution and continued focus on profitability, expanding our network, and enhancing product offerings that resonate with our customers' preferences," said MRSGI President and Chief Operating Officer (COO) Joselito G. Orense.

He acknowledged the challenges posed by increased operating costs but noted that, "We are encouraged by the recovery in same-store sales and the significant growth in margins, which collectively establish a solid foundation for the remainder of the year."

Contributing to the financial performance were strong results from both of MRSGI's main business segments. Food retail recorded a 2.8-percent increase in sales for the first six months, driven by the fresh category and sales boost from supermarkets opened over the past year.

Simultaneously, general merchandise expanded by 8.8 percent from the previous year, with notable contributions from back-to-school and home products.

The company's blended gross margin also improved to 21.8 percent from 20.7 percent in 2024, coming from margin gains in food retail and higher share to business of general merchandise.

Operating expenses (opex), on the other hand, increased to 21.4 percent of sales in the first half of 2025, up from 20.3 percent in 2024, attributed largely to higher utility rates in the Visayas region and increased labor costs.

Overall, MRSGI's cash earnings for the first six months as measured by EBITDA rose to ₱1.01 billion, a solid 27-percent growth from the previous year.

The company's results were benefited by its continued strategic expansion. Recently, MRSGI opened five new supermarkets in Talisay City and Liloan in Cebu, Ligao City and Guinobatan in Albay, and Gubat, Sorsogon, bringing its total store network to 76 stores.