METRO Retail Stores Group Inc. (MRSGI) posted a 45-percent increase in net income in the first half as improved margins and cost controls supported earnings despite slower sales growth.
Net income after tax rose to P212.2 million from P146.3 million, translating to a P65.9-million increase year on year, the company said in a disclosure.“Our strong performance in the first half of 2026 demonstrates the effectiveness of our strategic growth initiatives and the resilience of our core business,” President and Chief Operating Officer Joselito Orense said.Consolidated net sales increased 3.1 percent to P19.36 billion from P18.8 billion while comparative store sales edged up 0.2 percent.The company’s gross profit margin improved to 22.6 percent from 21.8 percent a year earlier, driven by margin gains in both food retail and general merchandise, and a better sales mix between the two categories. Food retail sales increased 3.8 percent while general merchandise sales grew 1.2 percent.Operating expenses rose 4.8 percent amid inflationary overhead costs and expenses related to new store openings. Despite this, operating income climbed 22.8 percent to P339.4 million.The retailer said it continued to expand its network to 84 stores from 76 a year earlier, with new locations in Naval, Biliran, Lapu-Lapu City and Mandaue City.MRSGI said it was also renovating existing stores, including its larger stores and hypermarkets. In July, it relaunched its pioneer Metro Colon store in downtown Cebu following renovations.“As we move into the second half of the year, we remain committed to bringing goods closer to communities, creating local jobs and continuing operational efficiency to deliver sustained value to our customers and shareholders,” Orense said.For the second quarter alone, MRSGI’s net income rose 40.3 percent year on year.MRSGI operates Metro Supermarket, Metro Department Store, Super Metro Hypermarket, Metro Value Mart, and Metro Home Improvement and Lifestyle formats across Luzon and the Visayas.Metro Retail shares on Thursday slipped P0.01, or 0.93 percent, to close at P1.07 each.
