Metro Retail Stores Group, the fifth largest retailer in the Philippines, saw profits grew to PHP789m (US$15.7m) for fiscal year 2016, boosted by a strong fourth quarter.
Reaping benefits from supply chain modernisation
Last year, the group opened a new warehouse facility in Cebu with advanced storage and security features. The retailer also added tracking capabilities on their new trucks to monitor delivery times. These improvements in operations and logistics are paying off. In the fourth quarter, sales and income rose 7.4% and 24.3% respectively, compared to the same period in 2015. This brought full year sales to PHP34.4bn (US$685.9m), up 6.5% from FY 2015.
Continued growth expected this year
The steady growth seen from October to December is expected to continue into 2017. The retailer has new initiatives in place to sustain the sales growth and profitability. Chairman and CEO Frank Gaisano said, "These positive results show that our investments and operational improvements are and will continue paying off, allowing us to better serve our ever expanding market."
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