RRHI hikes profit to billion

Robinsons Retail Holdings, Inc. (RRHI) registered a 5.8 percent growth in attributable net income to R3.49 billion in the first nine months of 2017 from R3.30 billion in the same period last year despite lower foreign exchange gains and higher taxable income. Core net earnings (net income excluding interest, equitized net earnings from the 40 percent stake in Robinsons Bank and unrealized forex gains/losses), increased by 12.9 percent year-on-year to R3.12 billion from R2.77 billion in the same period last year primarily due to the 16.0 percent increase in operating income. (JAL)