VISAYAS retail giant Metro Retail Stores Group Inc. (MRSGI) reported a 24.3-percent increase in profits for the fourth quarter last year, boosting up the company’s total net income to P789 million for fiscal year (FY) 2016, from P758 million in FY 2015, on the back of its operational initiatives and investments.
From October to December last year, net sales rose by 7.4 percent to P10.67 billion compared to the same period two years ago.
This ended a strong full-year 2016, with net sales reaching P34.4 billion, or P2.1 billion more than 2015 across all stores of MRSGI.
“We are very pleased to have closed 2016 with a strong fourth-quarter performance,” said Frank S. Gaisano, chairman and CEO of MRSGI.
“These positive results show that our investments and operational improvements are and will continue to pay off, allowing us to better serve our ever-expanding market,” he said.
Early last year MRSGI beefed up its supply-chain and logistics-modernization program.
The group opened its Cebu-based warehouse facility, with advanced storage and security features.
It also expanded its fleet with the addition of new delivery trucks fully equipped with tracking devices to ensure real-time monitoring of delivery and enhance overall cost efficiency.
The retailer is bullish to continue its growth momentum this year, with such initiatives to improve sales and guarantee profitability for every store.
To date, it has a network of 50 outlets, including 25 supermarkets, 13 hypermarkets and 12 department stores.
MRSGI is a unit of Vicsal Group, which includes Wealth Bank, Taft Properties and HT Land.