SPECIALTY retailer SSI Group Inc. posted a 44.4-percent increase in net income in the second quarter as higher revenue and improved margins boosted profitability.
The Tantoco family-led company on Monday reported a net income of P121 million for the April-to-June period, up from P83 million in the same quarter last year.
Revenues rose 13.3 percent to P7.5 billion from P6.6 billion previously while operating income jumped 82.2 percent to P270 million from P148 million. Gross profit margin improved to 46.1 percent from 44.1 percent.
“Our second-quarter results are a testament to the resilience of our business model and the continued strength of consumer demand across our diverse brand portfolio,” SSI President and CEO Anthony Huang said.
“By prioritizing operational efficiency and capitalizing on our technology investments, we have achieved strong revenue expansion and a notable increase in profitability,” he added.
For the first half, SSI reported total revenues of P15.1 billion, up 12.3 percent from a year earlier and with e-commerce sales rising 15.5 percent to P1.1 billion.
Net income from January to June, however, slumped 65.3 percent to P273.3 million from P451.76 million a year earlier, dragged down by a weak first-quarter performance.
Profit in the first three months of 2026 fell 58 percent to P152.91 million from P368.39 million a year earlier even as net sales increased by 11.4 percent to P7.64 billion.
The company had blamed higher operating expenses and weaker gross margins, which offset increased consumer spending, for the poor first-quarter numbers.
SSI shares on Monday added P0.01, or 0.49 percent, to close at P2.05 each.
